COVERAGE INFORMATION:
California Department of Real Estate (DRE) NEWS CLIPS service coverage:
Monday through Friday (except state holidays) each week includes electronic format articles retrieved from newspapers or news services that report real estate related news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet - and any significant related breaking news.
|
Copyright © , California Department of Real Estate
|
Tuesday, July 01, 2025
Top Stories
Gov. Newsom signs last-minute housing bill overhauling landmark environmental law
LIA RUSSELL & KATE WOLFFE, The Sacramento Bee
Gov. Gavin Newsom signed into law Monday a bill overhauling the landmark California Environmental Quality Act, which he and housing advocates said will jump-start development and tackle the state’s perennial housing shortage. The Legislature passed an updated state budget bill last Friday that, per an agreement drawn up by Newsom and the leaders of the state Senate and Assembly, stipulated that the governor had to sign Senate Bill 131 on Monday for the budget to be enacted ahead of the new fiscal year, which starts Tuesday.
Celebrity Broker Sues National Association of Realtors Over House Listings
DEBRA KAMIN, The New York Times (Subscription)
The National Association of Realtors, which came to a landmark $418 million settlement last year over claims of a conspiracy to fix commissions, is facing another antitrust lawsuit — this time over who can control access to real estate listings. Mauricio Umansky, a reality television star and a co-founder of the global brokerage The Agency, sued the trade organization in federal court on Tuesday morning. Recognizable to fans of “Buying Beverly Hills,” “Dancing With the Stars” and “The Real Housewives of Beverly Hills,” Mr. Umansky has been at loggerheads with N.A.R. since 2020, when he first went to court, claiming that its policies for real estate listings were anti-competitive and had damaged a private database of off-market listings that he had created in Los Angeles. The named plaintiff in the lawsuit is Pocket Listing Service, the company that Mr. Umansky founded.
National News
Homes Are Taking Longer to Sell in US Markets That Once Flourished
MICHAEL SASSO, Bloomberg (Subscription)
A buildup of unsold houses sitting on the market for weeks is becoming a new reality in once-blooming housing areas across the Sun Belt. Real estate agents in the South and Southwest say they’re seeing more people list homes, giving up on hopes that mortgage rates will drop anytime soon.
California News
These 24 city-owned San Francisco buildings could collapse in a major earthquake
MALIYA ELLIS & SRIHARSHA DEVULAPALLI, San Francisco Chronicle (Subscription)
When the next major earthquake strikes, at least 24 of San Francisco’s city-owned buildings could collapse, and over two dozen more could suffer major damage. The at-risk buildings include the Hall of Justice — where tens of thousands of San Franciscans report for jury duty each year — as well as multiple fire stations, police stations and homeless shelters.
San Diego ready to make a deal to turn 101 Ash St. into low-income housing
JENNIFER VAN GROVE, The San Diego Union-Tribune (Subscription)
The city of San Diego is preparing to lease its office tower at 101 Ash St. on a long-term basis, at no upfront cost, to a development team that plans to spend hundreds of millions of dollars to convert the property into housing for low-income families. On Wednesday, San Diego’s Land Use and Housing Committee will consider the transaction, which includes a 60-year ground lease with housing developers MRK Partners and Create Dev LLC.
Milpitas mayor spotlights housing, city budget in State of the City address
STEPHANIE LAM, The Mercury News (Subscription)
Milpitas has seen its fair share of growth over the past year — from green lighting new housing projects and welcoming tech companies to spearheading city-wide eco-friendly initiatives. These are all events that will change the city for the better, Mayor Carmen Montano said during Thursday night’s State of the City Address. “You are the heartbeat of Milpitas,” Montano said, addressing an audience of residents and local dignitaries at Milpitas City Hall. “Together we are shaping a smarter, greener, safer and more connected city for everyone.”
Industry News
Zillow fires back at Compass, saying brokerage faces no harm from its listing policy
TAYLOR ANDERSON, Inman (Subscription)
Zillow attorneys pushed back at Compass’ request for a broad and expedited discovery, and on the brokerage’s private listing network. ‘Compass would erect new barriers for buyers by making listings exclusive to each broker.’
Civil rights groups sue HUD for withholding fair housing grants
JONATHAN DELOZIER, HousingWire (Subscription)
Two civil rights organizations have filed a federal lawsuit accusing the U.S. Department of Housing and Urban Development (HUD) of unlawfully withholding millions of dollars in grant funding intended to enforce fair housing laws.
Spring recruiting season ends early with continued decline in agent movement
ROB KEEFE, HousingWire (Subscription)
The latest data through May 31, 2025, shows that agent movement continues to decelerate sharply as the industry exits the spring recruiting window. Despite May traditionally being a strong month for agent switching activity, this year’s readings signal that the expected seasonal strength failed to materialize — intensifying concerns about the sluggish recruiting landscape already noted in previous articles.
NAR: Homebuyers still have down payment misconceptions
JONATHAN DELOZIER, HousingWire (Subscription)
Despite growing attention around all-cash transactions, most Americans — especially first-time buyers — continue to finance their home purchases, according to new data from the National Association of Realtors (NAR). Among primary residence buyers, 74% financed their home purchase in 2024. That share jumps to 91% for first-time buyers, said Jessica Lautz, NAR’s deputy chief economist and vice president of research. One of the most persistent misconceptions among aspiring homeowners is that a 20% down payment is required to buy a home.
Real Estate Technology
No stories today
Property News
No stories today
In Case You Missed It
No stories today
Resources, Webinars, and Other Items of Interest
Gov. Newsom’s return-to-office order is here, but only for a few state workers
WILLIAM MELHADO, The Sacramento Bee
The long-awaited first day of California’s return-to-office order is here — but only for a handful of state workers. In the month after Gov. Gavin Newsom called labor groups representing public employees back to the bargaining table, unions announced deals in which their members could continue working primarily from home for one more year to help California reduce its payroll cost.
Zillow's listing ban has begun. Here's what you need to know now
TAYLOR ANDERSON, Inman (Subscription)
The nation’s largest real estate portal began enforcing its ban on private listings on Monday, 10 weeks after announcing its new standards. Here’s what you need to know now.
