COVERAGE INFORMATION:
California Department of Real Estate (DRE) NEWS CLIPS service coverage:
Monday through Friday (except state holidays) each week includes electronic format articles retrieved from newspapers or news services that report real estate related news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet - and any significant related breaking news.
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Copyright © , California Department of Real Estate
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Tuesday, June 16, 2026
Top Stories
Housing starts sink to six-year low
LIEZEL ONCE, Mortgage Professional America
Data from the US Census Bureau and the Department of Housing and Urban Development, released Tuesday, showed single-family housing starts declined 1.9% in May to a seasonally adjusted annual rate of 882,000 units. A concurrent 41.6% plunge in multi-family construction pushed overall starts down 15.4% to a pace of 1.177 million, the weakest reading in six years.
Rising Homeownership Costs Driving Headaches, But Not (Yet) Home Sales
JAMIE GOLD, Forbes
A recent Hippo Insurance survey reveals homeownership is a significant source of anxiety, but 97% of owners still deem it worthwhile despite the stress. This chronic stress manifests as restlessness, sleep disturbances, and worsening mental and physical health. Yet, homeowners prioritize stability, personal achievement, wealth building, and customization, affirming the enduring value of owning a home.
National News
May 2026 Rental Report: Loved by Locals, Discovered by Outsiders—and Rents Are Still Falling
JIAYI XU, DANIELLE HALE, Realtor.com
In May 2026, the U.S. median rent recorded its 34th consecutive year-over-year decline. Rent for 0-2 bedroom properties across the 50 largest metropolitan areas dropped by 1.5% compared to the previous year, with the median asking rent at $1,686—$26 lower than the prior year.
Mortgage brokers ask FHFA for 12-month delay of Fannie, Freddie condo rules
FLAVIA FURLAN NUNES, HousingWire (Subscription)
The National Association of Mortgage Brokers (NAMB) is asking the Federal Housing Finance Agency (FHFA) to delay new Fannie Mae and Freddie Mac condominium project and property insurance standards, set to begin taking effect in August, by at least 12 months. In a June 15 letter to FHFA Director Bill Pulte, the trade group warned that the current rollout schedule could push many projects into non-warrantable status and restrict access to conventional financing.
California News
Musk Math: How much California housing does $1 trillion buy?
JONATHAN LANSNER, Orange County Register (Subscription)
There’s been lots of chatter about just how much money is $1 trillion, now that Elon Musk, the world’s wealthiest person, has a net worth that makes him Earth’s first “trillionaire” – at least on paper. Let’s imagine that Musk had a huge interest in real estate. How far would a $1 trillion homebuying budget go for the Tesla/Space X founder?
Industry News
Zillow says Google’s home listing ads are no traffic threat — yet
AJ LATRACE, Inman (Subscription)
Zillow does not believe Google’s newly expanded home listing ads pose an immediate threat to its business, the home search giant told Inman, pointing to pilot-market data that the company says showed no meaningful decline in traffic or search interest for Zillow.
Guild Mortgage poaching suit against CrossCountry is revived
ANDREW MARTINEZ, National Mortgage News (Subscription)
Guild Mortgage is getting another chance to sue CrossCountry Mortgage for allegedly raiding its Seattle-area branch. A California appellate court last month revived Guild's years-old case against the rival, after a lower court dismissed the initial claims. The lender accuses CrossCountry of working with one of its branch managers to divert customers and spark a mass exodus from a Kirkland, Washington branch in 2021.
Real Estate Technology
Wells Fargo Backs 3D-Printed Housing With New Financing Program
CZARINNA ANDRES, National Mortgage Professional
Wells Fargo is expanding its involvement in the 3D-printed housing sector, announcing it has been named a preferred home mortgage lender for ICON, a company specializing in advanced construction technology. Under the arrangement, qualified buyers who finance the purchase of an ICON-built home through Wells Fargo Home Mortgage will receive a 50-basis-point lender credit.
Property News
Dolly Parton's secret California hideaway hits the market
ANDREW PRIDGEN, SFGate
A Central Coast home once owned by Dolly Parton has hit the market. Built in 1920, the property features three separate small units totaling around 2,500 square feet and showcases a signature Solvang windmill along with a plaque that is a tribute to Parton.
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