A new study reveals that younger generations of wealthy Americans are increasingly favoring real estate investments, while a generational wealth transfer further boosts property demand.

Rental application fraud has become a significant issue for property owners, with 93% identifying it as their top concern. From falsified income to fake references and identity theft, fraudulent applications create headaches for landlords and property managers alike.

Rents in the Conejo Valley continue to rise, with over 50% of available rentals listed for more than $5,000/month, and only 139 homes and condos available for lease—a 10% drop from last month. The solution to high rents lies in increased construction, not rent control, but with California’s high building costs, relief may be slow to come.

Mortgage rates have dropped significantly, with 30-year fixed rates now in the 5.50% to 6.50% range, ahead of the Fed’s expected rate cuts in September. If you’re considering a move, now could be the perfect time to secure a lower rate.

In July 2024, the Conejo Valley real estate market continues to thrive, with the median sales price in Thousand Oaks holding steady at $1.40M. Active listings have increased slightly to 303, but inventory remains low in this competitive Sellers’ market.