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.
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Copyright © , California Department of Real Estate
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Tuesday, May 20, 2025
Top Stories
National home prices reached record high in April
SARAH WOLAK, HousingWire (Subscription)
First American Data & Analytics released its April 2025 Home Price Index (HPI) report on Tuesday, revealing that house prices nationally are now 57.2% higher compared to pre-pandemic levels. Month over month, the HPI changed +0.4% and tear over year the HPI changed by +2.0%.
California home sales retreat for second straight month in April as median home price hits new all-time high, C.A.R. reports
CALIFORNIA ASSOCIATION OF REALTORS
Amid an environment of economic uncertainty during April, California's housing market retreated for the second straight month, while the median home price reached an all-time high, surpassing $900,000 for the first time in 10 months, CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
National News
Second-lien lending surges in equity-rich market
CANDYD MENDOZA, Mortgage Professional America
The home equity lending sector is experiencing notable shifts as originations rise and non-bank competitors chip away at traditional institutions' dominance, according to Home Equity Lending News’ (HELN) new study.
7% mortgage rates are back following credit downgrade
DAVE GALLAGHER, Real Estate News
The 30-year fixed-rate mortgage averaged 7.04% the morning of May 19, according to Mortgage News Daily. Though rates have plateaued in recent weeks, the average has generally hovered just below 7% following the Trump administration's April 2 tariff announcements.
Build-To-Rent Developers Take Over Entire Neighborhoods Across the U.S.—and These 5 Metros Top the List
SNEJANA FARBEROV, Realtor.com
Roughly 100,000 new build-to-rent (BTR) properties are being developed across the U.S. right now, coming on the heels of a banner year for the industry, which saw a record 39,000 rental single-family homes completed, up more than 15% compared with 2023, according to a recent report from Point2Homes.com citing March data from the real estate research company Yardi Matrix.
California News
Here’s how many homes downtown S.F. office conversions might create under new incentives
LAURA WAXMAN, San Francisco Chronicle (Subscription)
A total of 49 commercial properties in downtown San Francisco would be most suitable for conversions into housing, a new report published Friday found. The properties, located across seven downtown neighborhoods between the waterfront and the edge of the Mission District, have the potential to create 4,400 new homes and an additional $15.5 million per year in tax revenue, according to the city’s Budget and Legislative Analyst.
A Silicon Valley senator is proposing to insure multifamily development loans. Could it help spur more construction?
DEVAN PATEL, San Jose Mercury News (Subscription)
With California short of nearly half a million affordable homes and a slew of projects stalled amid adverse market conditions, Sen. Dave Cortese has proposed a bill that would allow the state to use its credit to insure construction and permanent loans for multifamily housing, giving developers access to more favorable interest terms and letting them build more quickly and easily.
‘They want more?’ State Farm increases California home insurance rate hike request to 30%
MEGAN FAN MUNCE, San Francisco Chronicle (Subscription)
A week after securing approval to raise home insurance rates by an average of 17%, State Farm General revealed plans to ask regulators for an additional 11% increase, as well as considerably higher rates for condo owners and renters.
Industry News
Lenders feel better, not exuberant, about housing market
BRAD FINKELSTEIN, National Mortgage News
The Mortgage Bankers Association's latest forecast for 2025 expects volume to be slightly lower than previously thought, with a 14% increase in the number of units produced.
How agent commission rates changed under NAR’s new rules
MARY DIDUCH, The Real Deal (Subscription)
When the National Association of Realtors agreed last year to change its commission rules, some industry observers predicted a doomsday scenario. The trade group’s landmark settlement over allegations from homebuyers set off forecasts that buyer agent commissions could be slashed in half.
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