Real Estate

Welcome to another edition of the REALTOR® Report! After two consecutive record-setting months, things cooled off a bit in July. Unit sales were down, as was the median price for Southwest Riverside County. However, I definitely wouldn’t panic or assume the worst yet. Low inventory is still keeping the market competitive, even with the higher […]

Welcome to another edition of the REALTOR® Report! You may recall that last month I reported the largest sales volume since September 2022, which was consistent with sales volume throughout California. So what’s your guess on June’s sales? If you guessed another record month, you’d be right! June’s sales volume for Southwest Riverside County was […]

Welcome to another edition of the REALTOR® Report! Last month, I was reporting to you from our National Association of REALTORs® conference in Washington, DC. If you recall, I had just attended a meeting discussing the debt ceiling and some not-so-positive repercussions if a deal could not be reached. Many people and organizations feared an […]

Welcome to another edition of the REALTOR® Report! This is always a busy time of year for me and those REALTORs® that also participate in our State and National Legislative Meetings advocating for homeownership and private property rights. With the housing market continuing to face challenges, we must continue fighting the good fight and making […]

Welcome to another edition of the REALTOR® Report! It’s hard to believe that we’re already through the first quarter of 2023, and things are far from slowing down. The housing market has definitely seen its share of challenges, some of which will be sticking around for a while, but the data for March 2023 shows […]

In recent reports, I’ve mentioned that everything is about perspective. I guess you could say that about any news or information, which continues to be true in housing. Take, for example, some headlines and articles published in the Press Enterprise. A week ago, the headline was “January Housing Sales Hit Record Low,” and the article […]

I can’t believe we’re already in February. There has been a lot of talk about the housing market recently, including social media and news sources. Interest rates have declined, and housing prices are softening as a result of a less competitive market. This helps improve affordability and is bringing some buyers back to the market. […]

I’d like to wish you all a very Happy New Year and welcome to 2023! I’d also like to congratulate all of our newly elected officials and newly appointed Mayors. I look forward to working with you all to continue to keep housing a priority and a successful part of our local economy. Speaking of […]

It’s Election Day, and I hope you have exercised your right to vote! You can’t complain about politics if you aren’t willing to participate. I hope everyone made educated votes and wish everyone luck as we wait for the results. There isn’t a lot of change in the big picture of the real estate market. […]

It wasn’t long ago that I commented that I felt like a broken record, and I’m sensing a déjà vu. Only this time, it’s a different tune. As the market has shifted, we are seeing similar trends continue for our region…unit sales are down, median prices are down, and days on market continues to rise. […]

August was a busy month in all areas I typically cover in this report. Unit sales were back up month over month, candidates for the General Election have been certified, and the State Legislative session came to an end. I also attended multiple economic forecast presentations, with two of those focused on our region specifically. […]

This month’s keywords are Recession, Inflation, and Interest Rates. You can’t turn on the news or open a newspaper without hearing or reading these words in a headline. So what exactly does that mean for our housing market, and more specifically, the housing market in Southwest Riverside County?  Economically speaking, we have entered our 2nd […]

Today is also Election Day, and I hope you exercised your right to vote. As I always say, you can’t complain if you don’t participate! Before we jump into the numbers, last month, I wrote that our National Chief Economist was optimistic that we were not headed into a recession mainly due to the strength […]

I have been anxiously waiting to see the numbers for April to see the impact of the increase in mortgage rates. While there was a slight dip in closed sales, and some cities saw a small decrease in transaction value, the region as a whole had another solid month.   The median home price in Southwest […]

As I ran the numbers for this month’s report, all I could think was WOW; March was a busy month! You’ll see the details on the following slides, but I will highlight that the transaction value of sales in our region increased by over $220 million from the previous month! That’s the largest increase since […]

Our housing numbers continue to be strong. I want to highlight a few things. First, while you may see some decreases month over month in the number of units sold, median prices continue to increase across the region. This might be attributed to homes that have sold above $1,000,000 – 2 in Canyon Lake, 2 […]

A recent article in the Wall Street Journal stated – “The House Party May Be Winding Down”. Their concern? That rising interest rates coupled with continuing double digit price appreciation could stall a housing market that has been charging at a bullish rate for the past decade, long exceeding previous run-ups. In fact-mortgage interest rates, […]

2022 started off with a bang, and we’ve already been busy! Final maps of the new Federal and State Districts are out, and Southwest Riverside County has a lot to process. Many of the new lines have shifted across cities, and we even have an entirely new State Assembly District. While these maps don’t officially […]

There has been a rise in couples co-habitating and purchasing real property together before getting married. While California is a community property state, California Law does not recognize common law marriages, and unmarried individuals are generally not entitled to support following a breakup. I have had countless consultations with individuals who purchased real property with […]

As we near the end of 2021, housing market trends for our area continue in the same direction they have for the past few months. As I mentioned last month, we have a little over 2,000 units currently under construction and another 11,000+ in the pipeline. Those numbers, factored with the updated Housing Element numbers […]

This month’s report contains some new information that I have been working on and am excited to share with all of you.  It’s no secret that housing inventory is extremely low and is a contributing factor to a robust seller’s market and a competitive buyer’s market.  This report is based on resale homes, and our […]