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NASA just declared an asteroid that has been orbiting Earth for 100 years a Mini Moon. Don’t feel too badly for the original moon, though, as the little one is only about 300 feet in diameter. Also known as Asteroid 2016, HO3 the asteroid moon will eventually break out of orbit. Still, it should stick around for a couple centuries more. »
WHAT'S NEW

- Mortgage Rates Fall For Friday
- Data Shows Improvement, Shows Housing Market Has Finally Recovered
- Moody's Report Cautions Against Privatizing Fannie Mae, Freddie Mac

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The Federal Housing Finance Agency (FHFA) increased the 2017 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $424,100 on one-unit properties and a cap of $636,150 in high-cost areas. »
Led by the Southern California region, California statewide pending home sales grew modestly in October from the previous year and were down from September as the market begins its seasonal cooldown. »
The California Supreme Court has ruled that a salesperson working with a seller owes a fiduciary duty of disclosure of material facts to the buyer in the transaction when both the buyer’s and seller’s salesperson are licensed under the same broker. »
Bolstered by healthy sales activity in Southern California and the Central Valley, California existing home sales and median price gained ground in October on a month-to-month and year-over-year basis. »
Rising wages and slightly lower interest rates did little to improve California’s housing affordability, which remained flat compared to the previous quarter. »
Leading the team is C.A.R. President Geoff McIntosh, a 30-year real estate veteran and broker in Southern California.  Serving with McIntosh are President-elect Steve White, Treasurer Jared Martin, and Chief Executive Officer Joel Singer. »
“Housing Affordability and California’s Future” Real Estate Summit will convene leading experts in policy, academia, and business to explore housing affordability, the state’s most pressing housing issue. »
The C.A.R. forecast sees a modest increase in existing home sales of 1.4 percent next year to reach 413,000 units, up slightly from the projected 2016 sales figure of 407,300 homes sold. Sales in 2016 also will be virtually flat at 407,300 existing, single-family home sales, compared with the 408,800 pace of homes sold in 2015. »
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