Our Coastal Neighborhoods Each Offer Different Nuances: Varied Lifestyles, Amenities, and Overall Community Planning

Recently released reports offer some promising outlook for the California housing market in the medium term and the long term. The anticipated increase in the statewide population in the coming years and a strong desire for many renters to buy in the near future are encouraging news that should help push housing demand to a higher level in the next few years. 

With the improvement in housing supply conditions expected to continue throughout the summer and rates projected to moderate more consistently in the second half of the year, more buyers should reenter the market in the later part of the homebuying season.

As always, please reach out if you have any questions or comments with your local market.

DID YOU KNOW?
The U.S. has more liquid investable wealth than any other country, with $67 trillion dollars available. Liquid wealth includes listed company holdings, cash holdings, and debt-free residential property holdings. (Henley)
 
DID YOU KNOW?
Will A.I. resolve one of the most critical cost issues around construction: SPEED? Homeowners are experimenting with an explosion of new artificial intelligence applications to quickly visualize an array of layout and style ideas, coordinate with builders and designers and estimate costs. These new tools say they can help save time and money in the building and renovation process, which has traditionally been filled with seemingly endless decisions and an avalanche of paperwork that often result in longer projects and ballooning costs. (WSJ)

DID YOU KNOW?
The Legends Tower, located in Oklahoma City has been given the green light. The Oklahoma City Planning Commission granted approval for a tower that will rise nearly 2,000 feet in Oklahoma’s capital city, dethroning One World Trade Center in Lower Manhattan as the nation’s highest. (NY TIMES)

DID YOU KNOW?   
A strong jobs report squashed hopes for an early Summer rate cut as the economy defies expectations and keeps growing, even though reading many headlines you'd be hard pressed to believe this is so... the unemployment rate rose to 4%, from a previous 3.9%, and employment (according to a measure adjusted to conceptually match payrolls) actually fell by 456,000. The contradiction helps explain why some observers see an economy that’s running “too hot” and others see an economy with emerging “cracks” that could be warning of a recession...and FED rate cuts. (Bloomberg)
 
DID YOU KNOW? 
Buying next door to expand or simply adding on to a home is a growing trend. Benefits include savings on a move, closing costs, potential capital gains tax savings, no new neighborhood learning curve/familiarity, and only 'half' the home may need a mortgage at a higher rate.... (WSJ)

DID YOU KNOW?
Copper gutters on a home may be worth mentioning as copper prices are likely to continue to soar.  Existing mines and projects under construction will meet only 80% of copper needs by 2030. Copper is used in LOTS of things related to electricity....generators, appliances, manufacturing, you name it!  (Consumer Energy Alliance)