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, November 18, 2025
Top Stories
Realtors reject proposal to require disclosure of more referral fees
TAYLOR ANDERSON, Inman (subscription)
The proposal would have amended the Realtor Code of Ethics to expand what sources of revenue must be disclosed to clients. It passed one vote — but was rejected in a final round.
The California Association of Realtors has a new leadership team
JIM DALRYMPLE II, Inman (subscription)
In 2026, Tamara Suminski will serve as the president of CAR, which is among the largest state Realtor associations in the country. Mark Peterson and Nikki Coppa are also taking on new roles.
Transparency? Not today. NAR delegates reject referral-fee disclosure rule
BROOKLEE HAN, HousingWire (subscription)
The National Association of Realtors’ (NAR) Code of Ethics will not be getting the makeover many initially anticipated at the close of the Board of Directors meeting on Monday, at the end of NAR’s 2025 NXT conference in Houston.
National News
Is $200 Million the New $100 Million in Luxury Real Estate?
KATHERINE CLARKE, The Wall Street Journal (subscription)
Just a decade ago, the $100 million price-tag was still considered a new frontier for luxury real estate in the U.S. The first nine-figure home sale occurred in 2011. By 2019, there had been about 20 sales recorded at that price point. Now, real estate insiders say a new pricing benchmark is setting the tone for the high-end market: the $200 million list price.
The Office Market’s Budding Recovery Is Leaving Most Cities Behind
PETER GRANT, The Wall Street Journal (subscription)
The emerging recovery in the U.S. office market is strikingly uneven, leaving many buildings, neighborhoods and entire cities behind. A handful of business districts, from New York’s Park Avenue to South of Market in San Francisco, are leading a turnaround. But most office markets are still burdened with empty space and anemic rents.
California News
Trump administration to divert billions of dollars from homeless housing programs
ETHAN VARIAN, The Mercury News (subscription)
The Trump administration is moving forward with plans to divert billions of dollars in homelessness funding earmarked for permanent housing, a decision state and local officials warn could push thousands of formerly homeless Californians back to the street. The plans redirect the funds toward shorter-term housing and outreach efforts, prioritizing programs that impose work requirements, mandate addiction or mental health treatment and help police close encampments, among other conditions.
Navy apologizes for delaying disclosure of radioactive material at S.F.’s Hunters Point Shipyard
LAURA WAXMANN, San Francisco Chronicle (subscription)
For weeks, San Francisco residents and officials have been slamming the Navy for waiting nearly a year to disclose that a radioactive heavy metal was found on the former Hunters Point Naval Shipyard, a Superfund site the federal government has been cleaning up for decades. On Monday evening, Navy officials took a rare step during a community meeting full of angry residents: They apologized.
San Diego luxury housing picks up, while the traditional market stalls
PHILLIP MOLNAR, The San Diego Union-Tribune (subscription)
San Diego home sales are near 40-year lows, but one segment of the market has seen a gold-plated surge. Affluent buyers in San Diego County have snapped up luxury properties — at record prices — at the quickest pace in more than three years. A Del Mar beach home smashed local records when it sold for $50 million in late October, on the coattails of a $47 million home sale in La Jolla just a week earlier.
LA-OC homeowners face $1,610 in ‘hidden’ costs
JONATHAN LANSNER, The Orange County Register (subscription)
“Hidden” costs can significantly increase the financial burden of homeownership in Los Angeles and Orange counties. Zillow has brought to light what it calls “hidden” ownership expenses. To me, the figures highlight what’s better dubbed “sometimes ignored” costs when affordability hurdles for house hunters are pondered. We’re talking maintenance, property taxes, and insurance.
It’s official: San Diego will fight court ruling on Midway District height limit
JENNIFER VAN GROVE, The San Diego Union-Tribune (subscription)
San Diego will ask the state’s highest court to keep intact a 2022 ballot measure, recently deemed illegal, that sought to eliminate the 30-foot height limit from the Midway District. Monday, San Diego City Council members voted 6 to 2 in closed session to authorize a petition for review to the Supreme Court of California.
How Building Affordable Housing Became Hottest Game in L.A.
REBECCA PICCIOTTO, The Wall Street Journal (subscription)
Developers say building all-affordable housing complexes rarely makes financial sense. Now in Los Angeles, it is the hottest game in town. Apartment developers across the city are lining up to submit proposals for 100%-affordable apartment buildings. The rush is thanks to a policy that promises to streamline the approval process by cutting the previous wait time from about a year to 60 days.
Industry News
REX wants the Supreme Court to reconsider hearing its case
BROOKLEE HAN, HousingWire (subscription)
The U.S. Supreme Court may have denied Real Estate Exchange’s (REX) to hear its appeal of the Ninth Circuit Court of Appeals ruling in its long-running antitrust suit against the National Association of Realtors (NAR) and Zillow, but that doesn’t mean REX has given up.
Former Fed Governor Kugler violated financial trading rules, filings show
SARAH WOLAK, HousingWire (subscription)
Former Federal Reserve Governor Adriana Kugler is said to have engaged in several financial transactions that violated the central bank’s ethics rules, multiple outlets have reported. That’s according to filings made public by the Office of Government Ethics on Nov. 15. They revealed that Kugler filed the disclosures in September. The forms show that Federal Reserve ethics officials would not certify that Kugler followed the central bank’s ethics rules and referred her disclosures to the Fed’s inspector general.
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