Real Estate News 07/03/2025

Today’s News Synopsis:

In The News:

Cal Matters – “Huge changes to CA’s landmark environmental law, CEQA” (07-01-25)

“Last week Gov. Gavin Newsom signed a state budget deal with the caveat that the Legislature would also advance trailer bills intended to speed up housing development in California.“

CNBC – “Mortgage refinance demand surges, as interest rates drop further” (07-02-2025)

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 6.79% from 6.88%”

Yahoo Finance – “3 housing-market warning signs that economists are monitoring“ (07-01-25)

“Inventory is piling up and sales volume has plunged, and the slowdown in what is a key pillar of the economy has some forecasters worried.”

CRE Daily – “Office Conversions Threatened By Proposed NYC Rent Freeze“ (06-30-25)

“Office conversions in NYC are gaining traction, but a proposed rent freeze could undermine this growing source of new housing supply.”

Redfin Blog – “Selling a House With Multiple Owners: Your Guide to a Successful Sale” (07-01-25)

“Living with someone teaches you a lot—selling a house with them teaches you even more. Whether you’re co-owners with siblings, friends, or an ex, the process can test even the best relationships. But with some planning, honest conversations, and the right paperwork, you can avoid the drama and close the deal smoothly.“