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Reali Roundup: What’s Got California Realtors Smiling? 😚

April 9, 2021

1 MINUTE READ

Happy Friday, friends! This week we’re looking into the housing market forecast for this year and beyond. Also, we’re giving you the details on BPPI: what it is and why it’s important to you. Let’s check it out!

CA Buyers’ Purchasing Power Still Strong

The Buyer Purchasing Power Index (BPPI) tells us how much home seekers can borrow over time. It’s calculated using the average 30-year fixed-rate mortgage (FRM) rate from Freddie Mac (Western region) and CA’s median income. This year, that figure is +5.2%, which is good! However, CA home prices are also up about 12% from last year, which is, well, it depends on your perspective.

The pearl in this oyster? Few anticipate a drastic rise in mortgage rates, and as BPPI flattens, many believe this will push home prices downward in the coming month.

Market Forecasts Sunny Vibes, Chance of Clouds

Despite recent upticks in mortgage rates, market indicators all anticipate a solid year ahead. Consumer confidence is at its strongest since the pandemic began (109.7 in March, up from 90.4 in February, the third consecutive month of gains). Progress on the vaccination front keeps improving. More people are applying for mortgages. And jobs, jobs, jobs — 914K more than last month, to be precise. It’s little wonder why more than realtors are jazzed about the rest of ‘21 and beyond.

So, while inventory is still cramping the sector’s style, its vitals are healthy. We’ll be back at the mall in no time.

Featured Homes

Fremont CA

Fremont 4 bed, 3 bath

Utterly charming dwelling fit for a king, replete with its own private court.
San Mateo

San Mateo 3 bed, 1 bath

Adorable, newly rejuvenated home–a perfectly fresh canvas for your family to make their own.

Sacramento 3 bed, 3 bath

So cute it probably belongs in an enchanted forest.

Whittier 4 bed, 2 bath

7000sf of wholesome living, just waiting to cuddle with you.

Good To Know

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The tax man doesn’t like talking much, so here’s how to get him on the horn, if only to annoy him.

3D-Printed CA Community Shows Promise for the Future

This new, 15-home Palm Springs enclave is straight out of The Jetsons. Get stoked.

How to Renew Your Home for Spring

Every home needs a ‘lil TLC now and again–here are some tips about not screwing that up, too.

Thanks for reading, everyone! Here’s to the weekend!🍻