California Housing Market
California Housing Market
California Housing Market
- Existing home sales rose 1.5% in September, reaching a seven-month high.
- Single-family home sales: 277,410 (up 5% from August, 6.6% from last September).
- Median home price: $883,640 (down 1.7% from August, up 1.8% from last September).
- Year-to-date home sales: up 0.4%.
California Proposition 19
California Housing Market
California Housing Market
Proposition 19 limits property tax benefits for inherited family homes. A child can keep the parent’s low property tax only if:
- The home is the parent’s primary residence, and
- The child makes it their primary residence within one year.
It also allows homeowners who are 55+, disabled, or disaster victims to transfer their low property tax to a new home up to three times (or once per disaster) anywhere in California.
Federal Interest Rates
Federal Interest Rates
Federal Interest Rates
The Federal Reserve cut the benchmark interest rate by 0.25%, the second month in a row, bringing it to 3.75%–4%, mainly due to concerns about a weakening labor market.
Laws & Rules
Federal Interest Rates
Federal Interest Rates
- SB 79: From July 1, 2026, new projects near major transit can build denser housing.
- HOA fines: Max $100 per violation, unless it’s a health/safety issue.
- FinCEN reporting: From March 1, 2026, escrow/title companies must report buyer/seller info for all-cash sales of 1–4 unit homes to an entity.
County: Orange, Los Angeles, Riverside, San Diego
Irvine, Lake Forest, Laguna Niguel, Newport Beach
Irvine: Woodbury, Stonegate, Turtle Rock
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