Real Estate

Housing affordability in California shrunk during the first quarter, the result of record high prices and interest rates. Twenty-four percent of the state’s households could afford the $797,000 median-priced home in the first quarter of this year, down from 25 percent in fourth-quarter 2021 and 27 percent year-over-year, according to …

U.S. home prices rose 20.9 percent in March, the 14th consecutive month of double-digit price gains for the country’s housing market. However, that number is expected to slow to around six percent next month, the result of rising mortgage rates and higher home prices, both of which will put buying …

An 80-unit apartment complex in San Bernardino has been sold. Mountain View Apartments at 2991 and 2995 Mountain Ave. was purchased for $13.3 million by a private investor in Los Angeles whose name was not released, according to CBRE. The sellers also wished to remain anonymous. CBRE represented both sides …

Construction has begun on a 112-acre logistics project in Norco. Palomino Ranch will cover two million square feet and feature 24 industrial building when it’s completed, said CapRock Partners in Newport Beach, the project’s developer. The first phase of the warehouse-distribution facility is being built. It will consist of eight …

Sales of existing single-family homes in California totaled 426,790 last month, a slight increase from the month prior but a 4.4 percent drop year-over-year, according to data released Tuesday. Statewide, the median home price in March was $849,080, up 10.1 percent from February and up nearly 12 percent from March …

An estimated 3.3 percent of all U.S. mortgages were in some state of delinquency in January, including foreclosures, according to data released this week. That was a 2.3 percent decrease year-over-year and the lowest national delinquency rate recorded since at least January 1999, Irvine-based CoreLogic reported. It was also the …