California home sales rebound in September with modest monthly and annual gains, C.A.R. says
Existing, single-family home sales totaled 277,410 in September on a seasonally adjusted annualized rate, up 5 percent from 264,240 in August and up 6.6 percent from 260,340 in September 2024.
September’s statewide median home price was $883,640, down 1.7 percent from $899,130 in August and up 1.8 percent from $868,150 in September 2024.
Year-to-date statewide home sales were up 0.4 percent.
The REALTOR® Action Assessment (RAA) is a $168 annual assessment paid by every C.A.R. member. The RAA funds C.A.R.’s efforts to protect property rights, defeat rent control measures, defend Proposition 13, preserve independent contractor status, and expand homeownership opportunities for Californians.
This investment ensures REALTORS® remain one of the strongest advocacy voices in California, ready to respond to issues that impact property owners, housing, and the Real Estate industry.
The new laws allow the FAIR Plan to request state-backed loans and bonds and distribute claims payments over multiple years, which is intended to prevent the need for future bailouts that raise the plan’s rates for consumers.
The FAIR Plan is an insurance pool that provides policies to people who can’t get private insurance because their properties are deemed too risky to insure. The number of homeowners forced onto the FAIR Plan has skyrocketed. With high premiums and basic coverage, the plan is designed as a temporary option until homeowners can find permanent coverage.
C.A.R. provided FAQ: https://42177214-9d7a-43d8-aecd-f7e162c92fd7.usrfiles.com/ugd/421772_d717ac928b9e4c8fb23135744b590689.pdf?utm_campaign=linkinbio&utm_medium=referral&utm_source=later-linkinbio
More information on California FAIR Plan: https://www.insurance.ca.gov/01-consumers/200-wrr/California-FAIR-Plan.cfm