A new study suggests a San Diego household must earn $258,926 a year to afford a local home. The Realtor.com study said the required income to buy a home in the San Diego metropolitan area has increased 73% since 2019, and is the fourth-most expensive market in the U.S. The San Jose metro area, home

The last time the U.S. housing market was this slow, “Fifty Shades of Grey” topped the box office and “Uptown Funk” was the No. 1 song. To get a broader glimpse into the nation’s housing market, my trusty spreadsheet reviewed a slightly different set of home sales figures created for the Southern Ca

California in 2024 claimed the world’s fourth-largest economy, by some curious math. Whether the state remains at this high, bragging-rights perch is very much in doubt. California businesses produced $4.1 trillion worth of goods and services in 2024, according to the latest gross domestic product e

By ALEX VEIGA, AP Business Writer LOS ANGELES (AP) — Homeownership is receding further out of reach for most Americans as elevated mortgage rates and rising prices stretch the limits of what buyers can afford. A homebuyer now needs to earn at least $114,000 a year to afford a $431,250 home — the nat

Call it what you want, but California’s homebuying pace remains below the Great Recession’s bottom. My trusty spreadsheet reviewed a new set of home sales figures created for the Southern California News Group by real estate tracker Attom. These broad-based statistics track closed transactions by mo

By ALEX VEIGA, AP Business Writer The average rate on a 30-year mortgage in the U.S. eased again this week, modest relief for prospective home shoppers during what’s traditionally the busiest time of the year for the housing market. Related Articles Paying for a remodeling job: Tap home equity line

Two 1980s-era office buildings in Sorrento Mesa previously slated for demolition will instead be repurposed as office condominiums by a developer looking to try something different in a depressed commercial real estate market. Los Angeles-based Abington Emerson Investments LLC has filed an applicati

How can California improve its lowly homeownership rate? Maybe build fewer apartments. That’s a novel conclusion I drew from my trusty spreadsheet’s look at homeownership stats weighed against building permits data dating back to 1988 for the 50 states. The math shows that residential construction i

San Diego home prices are still rising but at the slowest rate in years. In February, the San Diego metropolitan area’s home price increased 2.75% annually, said the S&P Case-Shiller Indices report released Tuesday. That’s the smallest increase since summer 2023 when rising mortgage rates sent a shi

There have been innumerable ups and downs in San Diego County’s history of homebuying across Southern California. The Southern California News Group will now be chronicling home sales and pricing swings using data from a new provider, Irvine-based Attom. The company tracks closed transactions for ex

California is the nation’s second-hardest state to find a homeowner. My trusty spreadsheet reviewed homeownership stats from the Census Bureau for the 50 states back to 1988. The numbers show little return on decades of incentives to get Americans to live in a home they own. California is a prime ex

A bill making its way through the state Legislature seeks to push the mega Seaport San Diego project through the state-mandated environmental review process at a faster clip and would limit the California Coastal Commission’s ability to deny the project. Wednesday, the state Senate’s Environmental Q

By ALEX VEIGA, AP Business Writer The average rate on a 30-year mortgage in the U.S. eased this week, though it remains close to its highest level in more than two months. Related Articles Paying for a remodeling job: Tap home equity line or investments? California consumer confidence rises slightly

There’s only one place outside of California where you’ll spend more of your paychecks on housing. My trusty spreadsheet calculated how much typical households spend on housing expenses by reviewing a cost study from WalletHub and homeownership levels from the Census Bureau. The math shows housing e

By ALEX VEIGA, Associated Press Business Writer Sales of previously occupied U.S. homes slowed in March, a sluggish start to the spring homebuying season as elevated mortgage rates and rising prices discouraged prospective home shoppers. Existing home sales fell 5.9% last month from February to a se

San Diego’s average new apartment size is now 827 square feet, a 16% reduction over a decade, said a new study from RentCafe. It is the eighth largest drop in the nation out of 100 cities. America’s Finest City has limited space for residential building, making the reduction a function of reality. H

There have been innumerable ups and downs in the history of homebuying across Southern California. The San Diego Union-Tribune along with the Southern California News Group will now be chronicling home sales and pricing swings using data from a new provider, Irvine-based Attom. The company tracks cl

A landmark dining and retail center on San Diego’s waterfront that has struggled with tenancy since its opening is on the cusp of new ownership. Commercial real estate investment firm LBX Investments LLC is in the process of acquiring the leasehold for The Headquarters at 789 W. Harbor Drive from cu

San Diego County’s home price continued to rise in February but was still off from its peak. The median home price was $886,500 in February, according to an Attom Data Solutions report released Thursday, up $20,000 from the previous month. The median, a combination of all closed sales of single-fami

San Diego voted Tuesday to ban software that it says is being used to illegally raise residential rents. The city council targeted software used by Texas company RealPage, which has been in federal crosshairs since August when the Biden administration filed an antitrust lawsuit against it. The Justi