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The latest read from the much-watched Case-Shiller Home Price Indices show price gains widening as the supply of homes for sale remains lean.
cnbc.com

California home sales tick higher in March as median price reaches eight-month high

- Existing, single-family home sales totaled 423,990 in March on a seasonally adjusted annualized rate, up 0.3 percent from February and 1.6 percent from March 2017.

- March’s statewide median home price was $564,830, up 8.1 percent from February and 8.9 percent from March 2017.

...

- Alameda, Marin, San Mateo, Santa Clara, San Diego, and Orange counties all hit a new peak price at $955,000, $1,392,500, $1,615,000, $1,454,500, $625,400, and $824,450, respectively.

LOS ANGELES (April 17) – California’s housing market continued its momentum as seasonally adjusted, existing home sales rose both month to month and year to year in March, while the statewide median price accelerated to an eight-month high, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 423,990 units in March, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.

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<span style="color: #212121;">California home sales tick higher in March as median price reaches eight-month high.</span>
car.org
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You may not want to retire in a large city with a big population. And the good news is there are some quality suburbs from which to choose with decent home prices and low property taxes. Here's where you may want to spend retirement.
usatoday.com

April 2018 National Housing Report
Rising Prices, Fewer Sales Driven by Record-Breaking Low Inventory
April 16, 2018
DENVER – If you are looking for a new home, chances are you’re not finding many homes on the market. If you’re a seller, you have likely noticed the value of your home is rising — no matter what part of the country you live in.

...

According to the April 2018 RE/MAX National Housing Report, home prices continued to climb year-over-year for the 24th consecutive month in March, while home sales continued to decline for a fourth consecutive month, making it a seller’s market in most regions of the country. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

“Homebuyers shouldn’t be discouraged by the record-breaking numbers — even with higher prices and closed transactions, this March marks the second-highest in sales in the history of the RE/MAX National Housing Report,” said RE/MAX CEO Adam Contos. “It’s more important than ever to work with an experienced RE/MAX agent who is invested and involved in their community. They are dialed into the nuances of a neighborhood, making your home search or sale easier and quicker.”

When the Months Supply of Inventory falls below six months, it’s a seller’s market, and all 54 metro areas surveyed for the monthly housing reported under six months of inventory.

“We also look at the Days on Market as another indicator of tight inventory and the national average stands at 60 days,” said Contos. “That’s four days less than a year ago and another March record-breaker.”

Closed Transactions
Of the 54 metro areas surveyed in March 2018, the overall average number of home sales increased +36.6% compared to February 2018 and decreased -5.3% compared to March 2017. Nine of the 54 metro areas experienced an increase in sales year-over-year including, Milwaukee, WI, +22%, Boise, ID, 7.3%, Albuquerque, NM, +6.7%; and Anchorage, AK, +3.8%.

Median Sales Price – Median of 54 metro median prices
In March 2018, the median of all 54 metro Median Sales Prices was $236,000, up +3.2% from February 2018 and up +4.9% from March 2017. Four metro areas saw a year-over-year decrease in Median Sales Price including, Anchorage, AK, -3.4%, Billings, MT, -1.1%, Trenton, NJ, -0.5%; and Manchester, NH, -.02%. Twelve metro areas increased year-over-year by double-digit percentages, with the largest increases seen in Boise, ID, +19.9%, San Francisco, CA, +19.4%; and Seattle, WA, and Las Vegas, NV, tied at +15.6%. https://www.remax.com/…/april-2018-national-housing-report.…

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California home sales tick higher in March as median price reaches eight-month high

- Existing, single-family home sales totaled 423,990 in March on a seasonally adjusted annualized rate, up 0.3 percent from February and 1.6 percent from March 2017.

- March’s statewide median home price was $564,830, up 8.1 percent from February and 8.9 percent from March 2017.

...

- Alameda, Marin, San Mateo, Santa Clara, San Diego, and Orange counties all hit a new peak price at $955,000, $1,392,500, $1,615,000, $1,454,500, $625,400, and $824,450, respectively.

LOS ANGELES (April 17) – California’s housing market continued its momentum as seasonally adjusted, existing home sales rose both month to month and year to year in March, while the statewide median price accelerated to an eight-month high, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 423,990 units in March, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. ....

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<span style="color: #212121;">California home sales tick higher in March as median price reaches eight-month high.</span>
car.org
I recently dug this mp3 up of me taking audio notes. And then I misplaced it and it just emerged on an old harddrive. Thus there is no intro or out as it was never meant for publishing and my language is a bit rough at one spot. But this was so good I had...
realestateseo.net

"Word is starting to make its way down the ultra-high-end real estate gossip grapevine that Hard Rock Café co-founder Peter Morton reached an agreement to sell his spectacular oceanfront front spread on Malibu’s Carbon Beach to an unknown buyer for a mind melting and record shattering $110 million. So the story goes, Morton was not looking to sell the two-parcel property but the unsolicited offer, brought by powerhouse broker Stephen Shapiro at Westside Estate Agency accordin...g to a well-connected snitch, proved simply too good to turn down. Morton, who sold the Hard Rock Café chain in 1995 for $410 million and the famously raucous Hard Rock Hotel & Casino in Las Vegas in 2006 in an all cash deal reported to net him more than $730 million, has owned the smaller of the two parcels since sometime before 1993 and records indicate he acquired the larger lot in 1998 for $3.5 million. "

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Word is starting to make its way down the ultra-high-end real estate gossip grapevine that Hard Rock Café co-founder Peter Morton reached an agreement to sell his spectacular oceanfront front sprea…
variety.com
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Positive Real Estate News
Business & Economy Website

Social media’s allure may be doing more than just spurring people to “like” this and “favorite” that. It may also be helping to create homeowners. That’s according to a news story with data from Bank of America’s 2018 Homebuyers Insights Report.

Social networking sites like Facebook and Instagram are influencing young adults to buy homes, according to CNBC.com. The craze is part of the phenomenon called FOMO (fear of missing out), the report says. Millennials now make up 65% ...of all first-time buyers, according to a survey by the National Association of Realtors (NAR).

Bank of America’s report highlighted that a third of millennials, along with 27% of all first-time buyers, agreed with the sentiment, “If they can buy, why can’t I”? While 21% said that FOMO was a motivating factor for homeownership.

U.S. homeownership rate increased in 2017 for the first time in 13 years. The rise was attributed almost wholly to millennials.

A RetailDive study found that 72% of millennials say they bought fashion and beauty products based on Instagram posts, so it’s not a stretch to believe that there could be some influence on home buying, as well.
https://about.bankofamerica.com/asse…/pdf/BofA_2018_HBIR.pdf

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about.bankofamerica.com
The richest zip code in America is just as exclusive and elite as the people who live there. Fisher Island, located just off the coast of Miami, is accessible only by ferry or water taxi and is a haven for the world’s richest.
bloomberg.com

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

...

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.”

While 13 of the 23 metropolitan markets examined moved further into buy territory, markets like Dallas, Denver, and Houston are currently deep into rent territory. Due to a lack of inventory, the home prices in these areas have increased by 6.7%, 6.3%, and 5.3% respectively from a year ago.

According to Eli Beracha, Ph.D., Co-Creator of the index, home prices will begin to return to more normal levels.

“Our data indicates that prices are above their 40-year trend but not significantly so as they were in 2007. Rather than a crash, I anticipate slower growth in prices accompanied by longer marketing times for sellers and increasing inventories, which should bring prices back in conjunction with their 40-year trend.”
https://business.fau.edu/…/bhj-buy-vs-rent-ind…/bhj-summary/

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BOCA RATON, Fla. (March 8, 2018) – Current signs indicate that most U.S. housing markets are approaching a peak in the real estate cycle, but there’s little evidence to suggest prices will plummet as they have in the past, according to the latest national index produced by Florida Atlantic Unive...
business.fau.edu
Home prices aren’t just rising, they’re rising faster and faster, despite forecasts for a natural correction and a ding from the tax-law changes that hit the mortgage-interest deduction.
marketwatch.com

The index rose 3.1% month-over-month (the estimate was a 2% gain) after a downwardly revised 5% decrease.

While the month-over-month gain shows demand for housing is still getting support from steady hiring, the market is facing several headwinds. Buyers are up against a persistent shortage of affordable listings to choose from, property prices continue to climb, and mortgage costs are rising. What's more, the Realtors group expects winter weather to weigh on demand in the Northeast.

A gauge of signed contracts to purchase previously owned homes increased in February for the first time in three months, highlighting uneven progress in the industry.
nationalmortgagenews.com

Across the U.S., changes in home prices from December to January ranged from a decrease of 0.7% in the West South Central division to an increase of 1.2% in the New England and Pacific divisions.

Annually, all home price changes were positive, ranging from an increase of 5.1% in the West South Central division to an increase in the double digits of 10% in the Mountain division.

West South Central: Oklahoma, Arkansas, Texas and Louisiana

...

New England: Maine, New Hampshire, Vermont, Massachusetts, Rhode Island and Connecticut

Pacific: Hawaii, Alaska, Washington, Oregon and California

Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona and New Mexico

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Home prices increased in January, moving even faster than the levels of increase seen at the end of 2017. In fact, January’s increase in home prices was the highest monthly increase since February 2017.
housingwire.com

Home prices increased 37% since 2009, and 7% since last year, Freddie Mac pointed out in its report. Homeowner equity increased to about $14.4 trillion in the fourth quarter, and homeowners with mortgages hold nearly $5.4 trillion collectively in equity available to borrow against, according to Black Knight data and analytics.

Home prices have continued to surge since the last recession, leaving homeowners with record amounts of home equity. Freddie Mac explained increasing home prices are helping many current homeowners build equity, while making it more difficult for many first-time homebuyers to achieve homeownership.
housingwire.com

“Bay Area home sales gained momentum in February, rising on a year-over-year basis for the first time in four months,” CoreLogic Analyst Andrew LePage said. “Although last month’s sales were well below average for a February they were the second-highest for that month in the last five years.” “A 12.6% annual increase in $500,000-plus transactions last month compensated for an 18.3% year-over-year drop in deals below $500,000,” LePage said. “The number of homes that sold for $...1 million or more this February rose about 33% year over year, to a record high level – 1,558 sales – for a February.” The median price for all homes sold in the San Francisco Bay Area increased 5.6% from $710,000 in January to $750,000 in February. The area’s median home price increased 12.8% over the past six months, and has now risen for 71 consecutive months on an annual basis. https://www.housingwire.com/…/42829-home-sales-continue-to-…

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The Bay Area continues to see homes fly off the market even amid rapidly rising home prices. Not only does the median home price continue to increase, but the number of homes that sold for $1 million or more this February rose about 33% year over year, to a record high level.
housingwire.com
California real estate pros have stepped up to help rebuild their communities after the Thomas Fires, arranging everything from benefit concerts to clothing boutiques for victims.
realtormag.realtor.org