View the latest sales and price numbers. Find out where sales will be in upcoming months.
Current Sales & Price Statistics Housing Affordability Index - Traditional Historical Housing DataThe Housing Matters Podcast is your housing hub for market analysis, economic trends, and housing news.
Stay connected with the latest releases by subscribing to the products and services that interest you.
Gain insights on California's housing market through interactive dashboards. Select your metrics and see where the data takes you.
Buyer's Guide Housing Market Overview Listings Luxury Market Market Stats by County Home Price FundamentalsFrom outreaches to webinars, the Research and Economics team is sharing their insight on the market and the economy.
Californians are surveyed annually to gain insights on the housing market from their persepective.
Get a roundup of weekly economic and market news that matters to real estate and your business.
Looking for information on how to file an interboard arbitration complaint? You've come to the right place! Find the rules, timeline and filing documents here.
California Model MLS Rules, Issues Briefing Papers, and other articles and materials related to MLS policy.
These volunteer training courses are for members who will be part of Board of Directors, grievance committees and hearing panels at local associations.
Summaries and photos of California REALTORS® who violated the Code of Ethics and were disciplined with a fine, letter of reprimand, suspension, or expulsion.
An explanation of C.A.R.'s position on MLS consolidations in general and a statewide MLS in particular.
The most recent edition of the Code of Ethics and Standards of Practice of the National Association of REALTORS®.
The California Professional Standards Reference Manual, Local Association Forms, Interboard Arbitration Rules, and other materials related to Code of Ethics enforcement and arbitration.
C.A.R. advocates for REALTOR® issues in Washington D.C., Sacramento and in city and county governments throughout California.
CREPAC, LCRC, IMPAC, ALF and the RAF comprise C.A.R.'s political fundraising arm.
REALTOR® Action FundLearn how you can make a difference, by getting involved yourself or by passing along valuable information to your clients.
Get Involved Homeowner Legislative Facts Rent Control Op-edCalifornia Code of Ethics and Arbitration Rules and external link to JAMS Arbitration service.
Summaries of legislation and regulation effecting REALTORS® and updates on news relevant to REALTORS®.
The Legal Matters Podcast is the official podcast of the California Association of REALTORS® Member Legal Services Department.
Methodology
C.A.R. looks at the monthly mortgage on a single family detached home based on the C.A.R. median price and the Real Facts average rent in each respective area for the first quarter of 2014. The monthly costs of home ownership include the mortgage payment, insurance and taxes. The mortgage interest and tax deduction savings are subtracted from the cost of ownership. The monthly costs of renting include the rent payment and renters’ insurance.
Assumptions
• Owners and renters live in same residence for 7 years.
• Income tax rate: 34.3% (25% federal plus 9.3% CA income tax bracket) based on annual household income of $87,698 for married couple filing jointly. (Source: C.A.R.)
• Inflation rate: -1.5% (Source: U.S. Bureau of Labor Statistics)
Homeowner
• Have a 20% down payment
• Median price, loan amount, mortgage interest rate and monthly payment (Source: C.A.R.)
• Term: 30 years
• MID & property tax deduction savings calculated based on 30-year amortization schedule. Average of first seven years was taken.
• Property tax rate: 1% the first year and increases by 2% annually
• Annual home insurance cost: 0.38%
• Average annual spending on home improvements & repairs: $2,370 (Source: Harvard JCHS)
• Investment appreciation calculation
o Average annual (tax-free) home price appreciation rate: 5.3% (Source: S&P/Case-Shiller)
o Present value of the accrued interest on median price over 7 years
Renter
• Security deposit: $1,700, average California monthly rent (Source: RealFacts)
• Monthly payment annual rent increase:
|
Area |
% Inc |
Avg Rent |
|
Inland Empire |
6.9% |
$1,246 |
|
Los Angeles |
7.8% |
$1,991 |
|
Oakland MSA |
13.8% |
$1,947 |
|
Orange County |
6.2% |
$1,807 |
|
Sacramento |
8.3% |
$1,101 |
|
San Diego |
7.5% |
$1,653 |
|
San Francisco |
13.9% |
$2,995 |
|
Santa Clara |
11.8% |
$2,457 |
|
California |
9.5% |
$1,790 |
• Average of present value of accrued interest on starting rent over 7 years
• Monthly renter insurance cost: $22.5 (Source: Cost Helper)
• Investment appreciation calculation : 11.8% (Source: DJIA from FRED)
o Investment = home down payment + security deposit
o Capital gains tax rate: 15%
o Present value of accrued interest on down payment and security deposit sum over 7 years
