California renters are spending over 35% of their income on rent, similar to homeowners’ mortgage payments. With rental supply at historic lows and high demand, prices continue to rise, challenging the concept of ‘affordable’ housing.

Mortgage rates have recently dropped in anticipation of the Federal Reserve’s expected rate cuts, with current 30-year fixed rates ranging between 5.75% and 6.75%. As September approaches, further reductions are likely...

The Conejo Valley real estate market remains strong despite high mortgage rates, with a 22% year-over-year increase in median home prices and continued low inventory.

The Conejo Valley real estate market remains a strong sellers' market, with a 20% increase in active listings this spring, although inventory is still low. The median home price in Thousand Oaks is around $1,150,000, slightly higher in Westlake Village.

In the June 2024 Local Mortgage Update, mortgage rates continue to hover in the low 7% range as the Federal Reserve has yet to reduce the Federal Funds rate. Despite speculation, a rate cut in July appears unlikely due to the upcoming election.

The Conejo Valley rental market remains tight with available rentals near all-time lows and demand pushing rents higher.

Over the past 40 years, U.S. home prices have surged by 494%, with states like Washington, Oregon, and California seeing even more dramatic increases. This growth far outpaces the stock market's historical returns, making a compelling case for investing in residential real estate.

Demand for rentals continues to outpace supply in the local market, resulting in higher rental prices. With only a limited number of affordable options available, the statistics highlight a growing need for additional Accessory Dwelling Units (ADUs) to accommodate the demand.

Stay updated with the latest trends in Conejo Valley’s real estate market, including inventory levels, pricing, and the impact of new regulations on sales commissions, showcasing the area’s consistent buyer demand and limited home supply.

Mortgage rates are currently stable at around 7%, with potential decreases expected in the fall due to economic conditions, although lower rates are achievable through special programs and buy-downs.