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Los Angeles in a week: Aug 8-12

This week's Los Angeles news relating to the real estate industry

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Jade Mills and Kalaan Brown announced their new division for sports real estate, looking to service professional athletes in Southern California.

Even with low interest rates, rising home prices in California are exceeding residents’ means to purchase, according to the California Association of Realtors (CAR), which says only 31 percent of the state’s population could afford to purchase an existing median-priced home in the second quarter.

As of June 2016, California’s foreclosure inventory was at 0.4 percent, and its serious delinquency rate was 1.4 percent, both of which are significantly lower than national averages, according to CoreLogic. Despite the 22,433 completed foreclosures in California from June 2015 to June 2016, the state saw a 24.3 percent drop in foreclosure inventory during the same period.

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