A recent analysis by the Public Policy Institute of California (PPIC) revealed that the state added 677,000 housing units over the past six years, even as its population grew by only 39,000. Despite this increase in housing, the market remains tight. Owner vacancy rates dropped from 1.2% to 0.8%, while rental vacancies stood at just 4.3% in 2024, well below the national average of 5.9%.

“The state has made some headway in adding housing units, but it’s been playing catch-up for so long that the progress hasn’t been enough to significantly ease the market,” said Joel Berner, senior economist at Realtor.com.

California’s housing shortage remains a major issue, with the state needing an estimated 2.5 million more homes, according to a 2022 estimate by the state’s housing agency. PPIC’s report also highlights a demographic shift that’s influencing the market, as household sizes have decreased over time. Between 2019 and 2024, the state lost 82,000 households with children and gained 722,000 households without them.

“Fewer people in each household means we need more households overall,” Berner explained.

The aging population of California is also contributing to this trend, with 16.5% of the state’s population now 65 or older, a figure projected to rise to 24.9% by 2050.

In response, homebuilding has picked up, with accessory dwelling units (ADUs) becoming more common. ADUs are secondary living units on the same property as a primary home, and California has encouraged their construction through policy changes aimed at reducing local restrictions.

“The state has made notable progress in encouraging ADU construction, which should be recognized,” Berner said. “These units are playing an important role in addressing the housing shortage where it’s most needed.”

While these efforts show progress, they haven’t fully addressed the crisis. New homes continue to be quickly absorbed, and vacancy rates remain low. Berner pointed out that despite California housing 11.5% of the U.S. population, the state only accounted for 7.3% of newly permitted housing units last year. “The pace is still not fast enough,” he said.

PPIC’s analysis also noted that household formation among young adults has risen, suggesting more younger residents are starting their own households. However, the state will need more affordable housing to allow these residents to take that next step.

Of the 1.2 million housing units planned for California, only 712,000 are designated for moderate-income or lower households, which is about half of what is necessary to meet demand, according to Realtor.com. This gap could pose a significant challenge moving forward.

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Sales of existing, single-family homes in California totaled 274,820 in February on a seasonally adjusted annualized rate, up 7% from January’s total, but down 0.3% from February 2025.

In the Inland Empire, sales were up 9% from last month, but down 3.7% from last year, while in Riverside County sales were up 20% from January but down 4% from February of 2025.

“Following a soft start to the year, the housing market regained momentum in February, with both sales and prices showing solid gains,” CAR President Tamara Suminski said in a statement. “The conflict in the Middle East is creating some uncertainty for the broader economy and financial markets, which could lead to some short-term hesitation in the housing market. We remain hopeful though that the situation will stabilize in the weeks ahead, allowing market fundamentals and buyer and seller confidence to reassert themselves.”

Statewide prices were also up last month, with California’s median home price rising 0.9% from January to February, to $830,370. That represents a 0.2% increase from one year ago.

In the Inland Empire, the average price rose 1.1% in February to $601,350, 1.6% lower than February 2025. Riverside County’s average price was down 1.3% last month to $631,000, which is 2.4% lower than one year ago.

“While mortgage rates remain below year-ago levels, they recently jumped to their highest level in seven months and could temper buyer momentum as we head into the spring homebuying season,” CAR Senior Vice President and Chief Economist Jordan Levine said. “However, many homeowners remain locked in to historically low rates, and inventory remains tight, so any stabilization in rates could help bolster home prices in the spring market despite ongoing affordability and economic challenges.”

The county with the highest median home price in California in February was Mono County at $2.35 million, after increasing 50% from last month. The lowest median price was Lassen County’s $199,000, after a 22% drop from last month.

The post RivCo Home Sales On The Rise, CA Follows Suit appeared first on The Hemet & San Jacinto Chronicle.

They generally need to provide first and last month’s rent along with a security deposit. Two of the less-talked about items, however, are refrigerators and stoves, which are not considered necessities by the state.

Many landlords do not offer the appliances to incoming renters, passing on the direct cost to their tenants.

That arrangement may be changing in California, due to legislation being proposed in Sacramento.

Why don’t landlords currently provide refrigerators?

Simply put, there is no requirement.

California law requires any building with a dwelling unit to maintain “certain characteristics in order to be tenantable.” That means landlords are on the hook for adequate heating and hot water systems.

Legally, fridges and stoves are classified as amenities and considered nonessential.

That language has made California an outlier. A 2022 Times analysis shows that the number of residents who entered into new leases without fridges and stoves is much higher in California than in any other state.

What does the added cost mean?

The average monthly rent in the city of Los Angeles is $2,347, higher than the national average of $1,995, according to Zillow.

First and last month’s rent plus a security deposit can force a new renter to have ready several thousands of dollars just to move in. And much more in wealthier parts of the county, where average rents hover near $4,000 — places like Ladera Heights and Larchmont Village.

If they don’t come with a fridge, plan to fork out another $600 to $2,300 for a new one, product analysts say, or plunge into the underground fridge market for a used one.

Assembly Bill 628 would put landlords in charge of buying and repairing the appliances

Assemblymember Tina McKinnor (D-Hawthorne), whose 61st District covers communities from Inglewood to Marina del Rey, introduced AB 628 to make refrigerators and stoves required appliances, not amenities. If passed, landlords would have to provide them starting Jan. 1, 2026.

“We know that people are really struggling out there with the high cost of food, gas, household goods, and on top of that, lots of people spend more than half their income on rent,” she said.

Ultimately, McKinnor wants renters to have one less payment to think about when entering a new lease.

She said the landlord will be in charge of fixing or replacing a refrigerator and stove, as are now with heaters.

Would the new requirement hike up rental prices?

In Los Angeles apartments subject to the Rent Stabilization Ordinance, landlords can only increase the rent once every 12 months by a limited percentage.

There are exceptions to the RSO, though, which include single-family homes, affordable housing, luxury housing units exempted by the Los Angeles Housing Department, rentals built after Oct. 1, 1978, and units in commercial buildings that converted to housing after Oct. 1, 1978.

What’s its future?

The bill is currently being read and amended. It will need to pass both the Assembly and Senate before potentially being signed by the governor in the fall.

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