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.

Friday, May 29, 2026

Top Stories

Real-Estate Agents Are Quitting the Slow Housing Market

NICOLE FRIEDMAN, Wall Street Journal (Subscription)
The slowest housing market in decades is stretching into its fourth year, and even real-estate agents who made it this far are reaching a breaking point. Most of them are independent contractors and get paid when a deal closes. With fewer sales to go around and homes taking longer to sell, more agents are ditching the industry or finding second jobs.

Gas Prices Are Quietly Reshaping Homebuyer Affordability

CZARINNA ANDRES, National Mortgage Professional
New data from Rocket Money shows the average user spent 29% more on gas in early May than before the Iran conflict began in late February, while overall household spending increased just 2.9% during the same period. The findings suggest consumers are reallocating more of their budgets toward fuel and other essentials rather than expanding overall spending.

National News 

Investor Home Purchases Fall to Lowest Level Since 2020

DANA ANDERSON, Redfin News
U.S. investor home purchases fell 6% year over year in the first quarter to their lowest level since 2020, when the start of the pandemic ground homebuying to a halt. Prior to 2020, the last time investors bought so few homes was in 2016.

Homebuyer affordability slips in April as median mortgage payment rises to $2,152

HousingWire (Subscription)
Homebuyer affordability declined in April as the national median payment applied for by purchase mortgage applicants rose to $2,152, up from $2,131 in March, according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI) released Thursday.

California News

Renting in S.F. comes with surprise fees. A new law would force landlords to show them

J.K. DINEEN, San Francisco Chronicle (Subscription)
With unexpected fees for everything from utilities to pest control to “garbage concierge,” the dirty little secret of renting an apartment in San Francisco is tenants often don’t know how much their pad is going to cost until they move in. The city wants to change that.

Thousands are leaving Los Angeles year after year. This is why we still have a housing crunch

JACK FLEMMING, Los Angeles Times (Subscription)
This year, the region has seen a slight dip in home values and a slight uptick in vacancy rates. But L.A. County’s population has been whittling down for the last decade, with 400,000 people leaving since 2016. During that stretch, home prices and rents have nearly doubled. What gives?

Thousands of vacant homes could soon trigger a hefty new tax in California city

TESSA MCLEAN, SFGate
San Diego residents will vote on Measure A next week, a controversial tax that would charge homeowners if their properties are vacant for more than 182 days a year. If passed, it would go into effect in 2027 and charge up to $8,000 the first year and $10,000 the next, with additional fees for commercial property owners. All the revenue would go into the city’s general fund.

Industry News 

NAR throws its support behind MLSs in statement to feds 

DAVE GALLAGHER, Real Estate News
Real estate industry trade associations — including the National Association of Realtors — are taking the opportunity to make their voices heard. In a May 21 letter to the U.S. Department of Justice and the Federal Trade Commission, NAR highlighted ways that multiple listing services benefit the real estate industry and consumers, while asking the federal agencies for guidance around data-sharing and rulemaking.

Mortgage TCPA lawsuits surge with 11 new cases

ANDREW MARTINEZ, National Mortgage News
Consumers in the past two months have filed 11 Telephone Consumer Protection Act complaints against mortgage firms, according to federal court records. While the latest defendants include large players like AmeriSave Mortgage and Rocket Mortgage, many of the cases in recent weeks target the vast pool of smaller industry originators.

Real Estate Technology 

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Property News 

Buyers are scooping up underwater San Francisco real estate

KASIA PAWLOWSKA, SFGate
Several rare San Francisco lots sold at auction Tuesday for eyebrow-raising sums, even in a city known for shocking prices. Located near the shoreline close to Candlestick Park, the lots were billed as “a unique opportunity,” with each offering 5,000 square feet, or about 1/10 of an acre of land. The lots sold for less than $1,000 a piece, but there was a catch, of course. All of them are submerged in the bay.

In Case You Missed It 

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Resources, Webinars, and Other Items of Interest 

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