Santa Barbara Real Estate News
Santa Barbara
California Home Sales Hit 7 Month Low in August, Despite Lower Rates
New data from the California Association of Realtors shows that California's statewide home sales hit a seven-month low in August 2024, as buyers paused despite mortgage rates reaching their lowest point since spring 2024.
U.S. Commercial Mortgage Debt Hits $4.7 Trillion in Q2 as Delinquencies Increase
According to the latest Commercial Delinquency Report from the Mortgage Bankers Association (MBA), U.S. commercial mortgage delinquencies rose in the second quarter of 2024.
California Home Sales Dip 3 Percent Annually in June
California home sales remained stagnant for the second consecutive month in June 2024, as the 30-year fixed rate mortgage remained above 7 percent throughout most of May, when most of these sales opened escrow.
Only 17 Percent of Current Residents Can Afford to Buy a California Home in 2024
The California Association of Realtors is reporting that only seventeen percent of the state's homebuyers could afford to purchase a median-priced, existing single-family home in California in the first-quarter 2024.
