MCAR IN THE NEWS & ANNOUNCEMENTS
Visit our About MCAR page regularly to stay updated on our involvement in real estate news. Discover articles and videos that highlight our commitment to sustainable and community-centric development. We invite you to explore the practical insights and responsible strategies that shape MCAR’s contribution to the evolving landscape of real estate.
![12](https://mcar.com/wp-content/uploads/2024/01/12.png)
NOVEMBER 14, 2023
Source: Monterey Herald
Monterey Herald: Monterey County median price for single-family home at record $1.093M
- The median price of a single-family home in Monterey County hit a record high of $1,093,000, substantially beating the previous record of $944,500.
- Chronically low inventory and ongoing increased demand contribute to overall rising prices despite price reductions in other regions and on limited listings here.
- Previously rising interest rates contributed to this record, but lower rates may not help reduce prices as local cities are slow to resolve their housing inventory shortages.
![13](https://mcar.com/wp-content/uploads/2024/01/13.png)
OCTOBER 24, 2023
Source: KION
Coverage of Salinas Rent Stabilization meeting
- The City of Salinas is beginning to discuss rental housing price controls despite their rental registry only being a few months old and not having collected much data.
- Studies show availability worsens by ~20% and cost worsens by ~25% when rental housing is overregulated.
- The Mayor requested further study of the pros and cons of imposing artificial price controls on rental housing.
![Article](https://mcar.com/wp-content/uploads/2024/01/Article.png)
May 12, 2023
Source: Monterey Herald
Monterey County’s constricted housing stock helps squeeze median price up to $900K
- Ten consecutive interest rate increases and decades of local government not approving enough housing result in a peak in prices compared to last year.
- The desirability of living in Monterey County along with a constricted housing supply works against achieving greater affordability.
- “It leaves people out, people who work in our communities and want to live here too, but Realtors can help them find resources like first-time homebuyer down-payment assistance.”
![Article](https://mcar.com/wp-content/uploads/2024/01/Article-1.png)
April 5, 2023
Source: KSBW
Coverage of Salinas Rental Registry ordinance
- The City of Salinas passed its rental registry ordinance after a year of meetings with stakeholders representing all sides of the issue.
- Mandatory rental housing inspections were removed from the ordinance as a condition of proceeding at all.
- Negotiation lowered fees and the amount of information required to register, and increased the grace period before late fees are applied.