Protect Pipes: Insulate exposed pipes to prevent freezing and bursting during cold weather.
Seal Air Leaks: Check windows, doors, and outlets for gaps to save on heating costs.
Projected average home price: over $1 million by 2030.
High demand due to robust job market.
Senator Jesse Arreguín has introduced SB 9 to facilitate the development of accessory dwelling units (ADUs) by eliminating the requirement for property owners to reside on-site. This bill aims to address housing displacement and increase housing availability in California. Supporters highlight the growing popularity of ADUs as a solution to the housing shortage, with nearly 84,000 units permitted from 2016 to 2022, representing about 20% of new units produced in the state.
The Bay Area housing market remains strong, with significant year-over-year price increases and robust buyer interest. In March 2024, the median sold price for single-family homes reached $1,386,500, marking a 15.5% rise from the previous year. While sales activity surged 31.7% month-over-month, there was a 5.4% decline year-over-year. Regional trends show varying price increases across counties, with Marin County experiencing the highest growth. The market is slightly favoring sellers, but experts do not predict a crash, citing strong economic fundamentals and ongoing demand.
With a rental cost of $161 per 100 sq ft, California has one of the highest rental prices in the US, with avg rents ~$3K/mo.
California homes are spacious, averaging 1,860 sq ft, but buying a home offers better long-term value than renting.
Home Sales Increase: Projected rise of 10.5% in single-family home sales, reaching 304,400 units in 2025.Price Growth: Median home price expected to rise 4.6%, reaching $909,400 in 2025 due to high demand.
Home Sales: Projected to increase by 10.5%, reaching 304,400 units as interest rates drop and more homes enter the market.
Median Home Price: Expected to rise 4.6%, bringing the median price to $909,400, supported by high demand and limited supply.
California's RHNA process has not balanced housing supply with demand or improved affordability significantly.The current RHNA quota requires 1.3M new homes by 2029, based on outdated population projections.
California’s rental security deposit law limits the amount landlords can charge and specifies its allowed uses.
Landlords can charge one month’s rent, but smaller landlords can charge up to two months’ rent.