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, July 7, 2026
Top Stories
U.S. Foreclosures Are Back: Homes Selling at a 27 Percent Discount
MICHAEL GERRITY, World Property Journal
The era of ultra-low mortgage rates may be over, but a new opportunity is emerging for buyers willing to accept more complexity: foreclosed homes selling at deep discounts. A new analysis of the foreclosure market shows that foreclosed properties sold for a median 27.2% below estimated market value, creating one of the largest discount opportunities available in today's constrained housing market.
First-time buyers account for half of purchase loans in 2025
LIEZEL ONCE, Mortgage Professional America
First-time homebuyers accounted for 49% of all new purchase loans originated by Newrez in 2025, according to originations data released this week by the lender. The data lands alongside a separate Morning Consult survey of 2,203 US adults, commissioned by Newrez and conducted June 12–14, which found that 81% of Americans still regard owning a home as part of the American Dream.
National News
Attorneys: Lenders unprepared for lawsuit wave
ANDREW MARTINEZ, National Mortgage News
Veteran industry attorneys say they don't believe lenders and servicers are prepared for an upcoming surge of borrower lawsuits over a variety of grievances. While artificial intelligence tools are making it easier than ever for consumers initiate legal actions, litigation will also persist in business disputes and regulatory oversight.
Far more real estate agents now report seeing a balanced market, CNBC Housing Market Survey finds
DIANA OLICK, CNBC
After several years of a lean and pricey housing market, real estate agents are starting to see more balance. In the second quarter of the year, 44% of real estate agents surveyed in CNBC’s Housing Market Survey said they were seeing a balanced market between buyer and seller. That share is up from 30% in the third quarter of last year, when CNBC began its quarterly survey.
California News
California lawmakers address the ‘missing middle’ with a bill streamlining townhome projects
KAITLYN SCHALLHORN, Orange County Register (Subscription
The bill, from Assemblymember Sharon Quirk-Silva, D-Fullerton, allows for the “ministerial approval” of townhomes. That essentially means local governments could approve such projects in areas already zoned for residential development without the typical discretionary review or hearing process — often a lengthy and arduous process — so long as the development meets certain requirements.
California’s first ADU condo sale offers cheaper path to homeownership in San Jose
ETHAN VARIAN, San Jose Mercury News (Subscription)
San Jose is home to the first accessory dwelling unit sold as a separately owned condo in California, city officials said, setting a potential template for a more affordable path to homeownership. But a lengthy rollout raises questions about whether the model can become a scalable solution to the state’s housing crisis — the sale comes more than two years after the state made such transactions possible.
S.F.’s housing market is so hot buyers are offering $1 million over asking
CHRISTIAN LEONARD, San Francisco Chronicle (Subscription)
From January through June, more than 140 San Francisco homes sold for at least $1 million above their asking price, according to data from real estate brokerage Compass. That included 44 sales in the month of June alone. In the first six months of 2025, just eight homes fetched at least $1 million above asking.
Industry News
$100K for antitrust: NAR explains new MLS insurance coverage
ANDREA V. BRAMBILA, Real Estate News
NAR has new insurance protections for state and local Realtor associations and their MLSs, the trade group explained at last month’s Realtors Legislative Meetings. Claims involving errors and omissions, crime loss, cyber liability and patent infringement are among those now covered.
Real Estate Technology
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Property News
Moving Back Home Used to Be a Sign of Failure. Now It Shows Financial Savvy.
REBECCA PICCIOTTO, NICHOLAS G. MILLE, Wall Street Journal (Subsciption)
Living at home as a 20-something was once viewed as a failure to launch and even a source of embarrassment in a culture that places a premium on independence. That is no longer the case. Living at home is now often viewed as a sign of financial prudence, and for some, a long-term prospect.
In Case You Missed It
California’s return-to-office order begins. Which state jobs offer remote work?
ANGELA RODRIGUEZ, Sacramento Bee (Subscription)
Several California agencies — including departments overseeing insurance, employment development and other state services — continue to advertise positions that offer remote or hybrid work arrangements as of Monday, July 6, according to CalCareers listings.
Resources, Webinars, and Other Items of Interest
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