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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Friday, June 12, 2026
Top Stories
Google’s listing ads are going national. Is real estate ready?
AJ LATRACE, Inamn (Subscription)
Google is taking its home-listing ads nationwide, expanding a HouseCanary-powered format that displays property details inside mobile search results and allows consumers to connect with local agents, the search giant announced Thursday. The expanded format will surface property details including pricing, images and core home features, with listing data powered by HouseCanary.
Single-Family Permits Continue to Decline Through April as Multifamily Activity Strengthens
DANUSHKA NANAYAKKARA-SKILLINGTON, Eye on Housing
Through April 2026, residential construction activity remained uneven across housing sectors. Single-family permitting continued to soften compared with a year ago, reflecting persistent affordability challenges and elevated borrowing costs, while multifamily permitting posted solid gains supported by stronger activity in several regions.
National News
Household Real Estate Value and Equity Rebound to Record High in 2026Q1
JIAYA XU, Realtor.com
In the first quarter of 2026, the Federal Reserve’s Flow of Funds data revealed that the total value of owner-occupied real estate climbed to a new record high of $48.7 trillion. Mortgage debt also continued its upward trajectory, reaching an all-time high of $13.8 trillion. As a result, home equity rose to $34.9 trillion.
Government Regulations Add More Than $130,000 to Cost of New U.S. Homes
MICHAEL GERRITY, World Property Journal
A new study released by the National Association of Home Builders found that federal, state and local regulations account for $131,734 of the price of an average new home, representing 26.4% of the average sales price of $499,500 as of January 2026.
Home Sellers Lose Pricing Power As Homes Now Sell Below Asking
National Mortgage Professional
A new report from Realtor.com found that the average home is now selling below its asking price, marking a significant shift from the pandemic-era housing market when bidding wars routinely pushed sale prices above list price. The report suggests today's market rewards sellers who price correctly from the start and punishes those who do not. Homes that close about four weeks after being listed sell for 1.8 percentage points above the monthly average for comparable homes sold during the same period.
California News
Mayor Lurie drops plan meant to kick-start housing in favor of taxing foreclosed real estate
J.K. DINEEN, San Francisco Chronicle (Subscription)
Mayor Daniel Lurie and Supervisor Bilal Mahmood are dropping a controversial proposal that would have cut transfer taxes on high-end real estate transactions and instead will focus on a previously planned part of the plan that would tax foreclosures. If passed, the tax would allow the city to collect a 3% to 6% tax on the value of commercial properties when they are foreclosed on.
Industry News
No stories today
Real Estate Technology
Bank regulators ramp up AI scrutiny in lending and underwriting
MATT SEXTON, Mortgage Professional America
In an exclusive report released by Reuters on Friday, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve have begun asking banks in routine examinations to map out how they use AI in higher-risk areas, including lending, know-your-customer checks, and sanctions screening, citing three sources familiar with the matter.
Technology Helping Address Construction Labor Shortage
JEFFREY STEELE, Forbes
Construction is and has been among the hardest hit trades by labor shortages despite two-year construction trade program enrollment rising 5% from 2018 to 2024, according to a JLL report. Experts agree it will take far more than that surge to ensure the field replenishes workers lost to attrition and retirement, and adds a third of a million more to meet the growing demand for construction services just in the year ahead.
Property News
No stories today
In Case You Missed It
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Resources, Webinars, and Other Items of Interest
What are the most asked questions from first-time homebuyers?
JEFF LAZERSON, Orange County Register (Subscription)
What do first-time homebuyers want to know as they get on the road to homeownership? Here are the most-often asked questions.
