I am always available if you have any questions about the real estate market, so please do not hesitate to reach out to me with a call, text, or email.

See you soon,

510-406-4836 | joujou.chawla@chawlarealestate.com

#1 AGENT IN DANVILLE & BLACKHAWK

(JANUARY 2023 – JUNE 2023)

Market Watch

JUNE 2023 TEAM RECAP

Extremely thankful to my clients, friends, and colleagues for supporting me in my business.

• Smoke travels….far! The Canadian wildfire smoke has reached all the way south to Florida causing reduced air quality all the way through Georgia and The Carolina’s.

• The national median rent price is now $2,029, 1.8% less than in August 2022 when rents reached $2,053. By February 2023, rents had declined 6% from the previous high of $1,936. Rents decreased on a yearly basis in 33% of markets in June, mostly driven by markets in the West where region-wide rents dropped by -0.3% YOY in June. The South grew by a moderate 0.8%, while the largest gains were in the Northeast where prices are now 4% more expensive than they were in June 2022, and in Midwest, where rents increased by 3.7%. (USA Today)

• As drought-stricken Arizona bakes in searing heat, the Scottsdale City Council unanimously agreed this week to ban natural grass in front of future single-family homes in an effort to conserve water. The new ordinance will apply to new houses constructed or permitted after August 15. 86% of water customers agreed this measure was appropriate and necessary.

• Turkey has a method of construction that incorporates polystyrene barriers and brick all in one thereby removing the need for an additional insulating process.

• Inflation is coming down. Fast! The consumer price index rose 3% last month from a year ago, the smallest advance in more than 3 years (Bureau of Labor Statistics). Excluding food and energy, the core CPI – which economists view as the better indicator of underlying inflation – advanced 4.8%, also the lowest since 2021. Appliances and furniture are witnessing DEflation of around 1.5%….good for housing costs. (WSJ)

• The area along Scenic Highway 30A in Florida has seen explosive growth over the past two decades, with the development of new communities with golf courses, bike trails, boutique stores and high-end restaurants. Vacation rental prices have gone up too with some homes generating Hampton’s size rental income. (WSJ)