HCD Web News is an electronic clipping service which features stories related to California and national housing and community development related issues. HCD staff compiles current news sources on Monday, Wednesday, and Friday.
January 18, 2013
[1/16/13] // State and local officials are expected to be on hand …for the groundbreaking for the first building at Township 9 north of downtown Sacramento: a 180-unit, five-story affordable-housing apartment complex built with tax-exempt financing. Today’s event at the Cannery Place Apartments follows $30 million worth of infrastructure at the 65-acre site …
By Alejandro Lazo // Construction of new residential buildings saw a sharp increase in December, driven largely by work begun on new apartments.
HOUSING MARKETS / REAL ESTATE
By Gregory J. Wilcox // Southern California’s median home price jumped 20 percent in December from a year ago, driven by strong investment activity, a record number of cash buyers and a continued shift to mid- and high-end sales, a market tracker said Tuesday. Sales also showed strength, increasing 5 percent from December 2011 …
By Stefanos Chen // The end of the year typically represents prime time for savvy home buyers who pounce on last-ditch discounting by sellers. But in another sign that 2013 may be brighter for housing, price reductions on for-sale homes are getting harder to find in many markets… In Oakland, Calif., which recorded the smallest percentage of price reductions, only 15% of homes dropped in price.
News release: 1/15/13 // LOS ANGELES – California home sales and prices both posted gains in December, with the median price posting strong double-digit gains for six straight months, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported. “A rush to complete sales of higher-priced homes by the end of the year to avoid an expected increase in capital gains due to the “fiscal cliff” pushed up sales of homes priced $500,000 and above …
[News release: 1/15/13] // La Jolla, CA — Southern California’s housing market ended 2012 with the highest December home sales in three years, the result of robust investment activity, a record level of cash buyers and more sales gains in move-up markets. …
[News release: 1/16/13] // La Jolla, CA — The pace at which the Bay Area housing market is making up for lost ground quickened at the end of 2012 as sales increased year-over-year for the 18th month in a row and the median price rose at its fastest rate in more than 25 years. …
[1/16/13] // Creating a responsible mortgage market must start by developing liquidity that provides broad access to mortgage credit that borrowers understand and have the ability to repay, says a new report Wednesday from the Harvard Joint Center for Housing Studies.
MORTGAGE & FORECLOSURE ISSUES
Despite a 25 percent decrease in foreclosure activity from 2011, the Central Valley city of Stockton posted the nation’s highest foreclosure rate in 2012 among metropolitan statistical areas with a population of 200,000 or more, according to a report Wednesday night from foreclosure information company RealtyTrac Inc. of Irvine.
ECONOMY / EMPLOYMENT
By Beau Yarbrough // In the past 12 years, the Inland Empire beat out high-tech hubs like Seattle, San Francisco and Silicon Valley in the creation of high-tech jobs. From 2001 through 2012, high-tech jobs grew by 18.6 percent. Only the Washington, D.C., suburbs outpaced the trio of Riverside, San Bernardino and Ontario. The ranking was created in a report by the Praxis Strategy Group …
By Jana Adkins // The state of California is auditing Santa Clarita’s Enterprise Zone as part of a new focus by Gov. Jerry Brown to make some changes in the way the program is put into operation in various regions.
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California Department of Housing & Community Development WEB NEWS service coverage:
Mondays, Wednesdays and Fridays each week includes electronic format articles retrieved from newspapers or news services that report housing and community development 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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