1.Southern California housing market downshifts in August
“Home prices in Southern California hit their highest level in nearly seven years this summer, but those gains are slowing down.”
2.Applications for New Home Purchases Decreased in August
“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2014 shows mortgage applications for new home purchases decreased by 9 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. ”
3.US Average Rate on 30-Year Home Loan 4.12 Percent
“Average long-term U.S. mortgage rates rose slightly this week.”
4.Foreclosures are back — are they coming to your city?
“The number of homes scheduled for foreclosure auction is rising — reversing a years-long trend. ”
5.Sacramento housing market continues to cool off
“Sacramento’s housing market continued to cool off in August, with fewer properties changing hands and prices holding steady from the month before.”
6.California economy will keep plodding through ’16, UCLA forecast says
“California’s “painfully plodding” economic recovery will continue its slow march through 2016, according to the quarterly UCLA Anderson Forecast.”
7.California home sales drop to 4-year August low
“The number of homes sold in California fell to the lowest level for an August in four years as a supply crunch pushed prices higher and kept homes out of reach for many buyers, a real estate research company reported Thursday.”
8.Drop in U.S. workforce due to aging, not weak economy -Fed paper
“The drop in U.S. workforce participation since the financial crisis is largely due to the aging of the American population and will not reverse even if labor markets improve, a paper to be presented at a Brookings Institution conference on Friday says.”
9.California may see stronger economic growth next year
“California’s economy continues steady improvement, and growth should accelerate next year, according to the latest projection from the Business Forecasting Center at the University of the Pacific in Stockton. ”
10.Foreclosure activity increases 7 percent in August
“Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 116,913 U.S. properties in August, an increase of 7 percent from the previous month but still down 9 percent from a year ago, according to the real estate information company RealtyTrac Inc. of Irvine.”