By ALEX VEIGA, AP Business WriterThe average rate on a 30-year mortgage in the U.S. rose this week to its highest level since late November, reflecting a recent uptick in the bond yields that lenders use as a guide to price home loans.The rate rose to 6.72% from 6.6% last week, mortgage buyer Freddi

“Swift swings” takes a quick peek at one economic trend.The number: California homebuying in November took its biggest one-year leap since June 2021.The source: My trusty spreadsheet looked at the California Association of Realtors’ latest home sales report.The curveSales of existing, single-family

By ALEX VEIGA, AP Business WriterSales of previously occupied U.S. homes rose in November to their fastest pace since March with home shoppers encouraged by a wider selection of properties on the market, even as mortgage rates mostly ticked higher.Existing home sales rose 4.8% last month, from Octob

San Diego could potentially deny the 239-foot-tall, mixed-use tower proposed for 970 Turquoise St. in Pacific Beach that has not only outraged community members but catalyzed elected leaders to seek reforms to state housing laws.Last week, the city of San Diego received a technical assistance letter

“How expensive?” tracks measurements of California’s totally unaffordable housing market.The pain: The cheapest place to live in California – the Central Valley’s Hanford – is still more expensive than 295 metropolitan areas across the US.The source: My trusty spreadsheet reviewed the annual “price

The number of homes fixed and flipped in San Diego is down from a peak two years ago, and profits are hard to come by.There were 554 homes flipped in the third quarter in San Diego County, said Attom Data Solutions, down from more than double that two years ago. The report from Attom, an Irvine-base

Farmers Insurance plans to start writing more home insurance policies in California ahead of regulatory reforms set for next year, the state’s second-largest homeowners insurance provider announced Wednesday.In 2023, Farmers capped the number of new homeowner insurance customers it accepted at 7,000

The unwanted RV resort that appeared destined to replace a boat storage yard on 7 acres of waterfront property in exclusive Coronado Cays is no more.Tuesday, the Board of Port Commissioners for the San Diego Unified Port District voted unanimously to approve a lease termination agreement with port t

A Chicago investment firm has bought a Vista apartment complex for $185 million in the second-largest deal of the year in the county.Mesirow Financial, a privately held financial services outfit, paid $451,220 per unit for the Preserve at Melrose Apartments — a deal real estate tracker CoStar said s

“How expensive?” tracks measurements of California’s totally unaffordable housing market.The pain: California’s home-repair inflation rate has more than doubled during the past five years.The source: My trusty spreadsheet reviewed the California slice of the Verisk Remodel Index. These insurance ind

San Diego’s 109-year-old Botanical Building, a popular landmark in the heart of Balboa Park, will reopen to the public Friday afternoon for the first time in nearly three years after being almost entirely reconstructed according to historic standards.The debut of the painstakingly restored park attr

San Diego County home sales picked up in October as mortgage rates dropped to their lowest level of the year.There were 2,372 home sales in October, a 19% jump from September, CoreLogic said. The median home price was $879,000, down $1,000 from the previous month but still up 7% in a year.September

San Diego Mayor Todd Gloria has abandoned his ambitious plan to offer the city’s downtown real estate for redevelopment as part of an effort to secure a new City Hall facility for government workers.The decision, announced Wednesday as part of package of potential emergency budget cuts, comes after

Which state economies are best at juggling the needs of bosses and workers alike?In recent months, my trusty spreadsheet produced a pair of state economic rankings. One took the view from the employer’s perspective. The other saw economics through the employee’s eye.Let’s politely say there were pas

New statewide laws could make home construction easier this year in San Diego, says the state’s biggest construction organization.California’s Building Industry Association says new legislation is likely to cut down on time, and delay or reduces costs. The new laws, signed last year by Gov. Gavin Ne

“How expensive?” tracks measurements of California’s totally unaffordable housing market.The pain: For all the talk of falling rents, landlords are upping their ask in eight of the state’s 11 largest cities.The source: My trusty spreadsheet reviewed November stats from Zumper on what landlords sough

San Diego city officials are scrambling to maintain ownership of Liberty Station in the face of a legal challenge from the national property management company that leases much of the sprawling former military base.The management company, Seligman Properties, contends the city must offer up the 20-y

Tenants still can expect to pay more for their apartments over the next two years, although rent hikes will be modest compared with double-digit percentage jumps during the pandemic, a recent forecast said.Rents are expected to rise $133 per month in San Diego County by mid-2026, and between $110 an

San Diego County’s home price gains continue to decline — a sharp contrast to the start of 2024 when the region led the nation in growth.The San Diego metropolitan area’s home price increased 4.7% annually in September, according to the S&P Case-Shiller Indices report released Tuesday. That’s a perc

Dramatic change would be required to fix California’s homebuying affordability mess.My trusty spreadsheet compared home-price increases with income growth for 10 large California metropolitan areas using housing indexes by ICE, a mortgage-tech firm, and pay stats from the US Bureau of Economic Analy