Pasadena January 2016 Real Estate Sales
Pasadena January 2016 Real Estate Sales Recap:
At first glance, it looks like Pasadena’s average price per square foot has dropped since December. However, when we compare it to January of last year, it’s clear the number is still much higher. That’s a positive sign for homeowners. Days on market (DOM) also remain low—under two months. Homes are selling quickly. The absorption rate, now under three months of inventory, signals a strong seller’s market.
Now that the Super Bowl has passed, more Pasadena homes are finally hitting the market. We’re seeing new listings pop up every day. That’s typical for this time of year, as many sellers wait until February to move. But will this new inventory shift us toward a more balanced market? Can supply keep up with buyer demand? Honestly, I don’t think so. Demand remains strong. Inventory is still tight. And with 2025 being an election year, anything can happen. For now, sellers remain in a strong position—but we’ll have to watch the numbers closely in the coming weeks.
Stagnant wages and increasing home prices are causing some home buyers to have the winter blahs. Fannie Mae’s monthly Home Purchase Sentiment Index shows that fewer Americans think it’s a good time to buy a home now, with last month seeing a 1.7-point drop in consumer optimism toward owning a home.
CA eviction security measure bill sparks opposition from city officials
California tenants who have already applied for the state’s rental assistance program cannot be evicted if they’ve applied before March 31, regions AB 2179, A bill approved by the California State Assembly on Monday.
AB 2179 extends emergency COVID 19 charmingdate tenant rights through June 30. A preemption clause in the legislations, which will affect residents based on which city they live in, Has sparked resistance from some city officials.
If citizens are unable to pay April’s rent past the Thursday deadline, No additional care will be granted, in Simon Weisberg. on the contrary, She added local jurisdictions usually have the power to pass eviction moratoriums to supplement protection for their residents.
abs 2179, even so, Has a preemption clause that disallows local communities from passing additional protects for their residents until July 1, 2022, to be able to Simon Wiesberg. rights that were enacted after Aug. 19, 2020, will be delayed.
The preemption clause, Senator Scott Weiner and Assemblymember Phil Ting said in a joint report, may be a “fatal flaw” In the check. One in four tenants in California will not be safeguarded by the legislation by way of the clause, Simon Wiesberg thought. san fran, Fresno and almost the entirety of Los Angeles County are among jurisdictions that will face limits, Simon Weisberg recounted. Weiner and Ting called this disparity in tenant aid between jurisdictions “Playing absolute favorites,
a few jurisdictions, particularly Berkeley, “Acted quickly, As they passed moratoriums leading to a August cutoff, to be able to Simon Wiesberg. consequently, She referred to, Berkeley tenants it’s still protected.
As tenants are left ineligible for defense against state and local laws, Simon Weisberg said communities are faced with addressing and mitigating increased houselessness with little to no support from the state.
“the state of hawaii is saying ‘Nope, Not only are we not going to protect anybody after April 1st, But you do not get to either,or,– ” Simon Wiesberg replied.
Simon Wiesberg alleged it was pressure from the real estate industry and large corporate landlords that resulted in the structure and approval of the legislation.
Tenants every single, California’s statewide organizing for renters’ rights, Said in a statement that it mustn’t be “with little thought forced” To prioritize protections for some tenants while excluding others a situation it claims will take place by using AB 2179.
Delayed release of Assembly Bill 2179 late last week, And the lack of transparency in its crafting, Allowed no reasonable timeline for any feedback and amendments from California tenants and advocates before AB 832 protects expire on March 31, A Tenants Together website article alleged.
The group says while the bill relieves stress from some tenants, It also in its current form explicitly prohibits California’s city and county officials from taking steps to solve the larger houselessness crisis.