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Institutional Financial Analysis

Home/Real Estate/FHA LOAN RULE CHANGE

Manteca Home Prices Drop Below Cost of Local Rent

HR

Hugo Remington

FHA loan rule change · Apr 17, 2026

Manteca Home Prices Drop Below Cost of Local Rent

Source: DojiDoji Data Terminal

Owning a home in Manteca now costs $599.21 less per month than renting a similar property. A 1,094-square-foot home at 431 Edward Avenue sold for $70,000 on February 10. With a 3.5 percent down 30-year fixed FHA loan, the monthly cost including taxes and insurance is $480.79. A comparable three-bedroom, one-bathroom home on the same street rents for $1,080 a month.

Related Brief1d ago
real estate

Manteca Resale Homes Sell for Less Than Construction Costs

The majority of resale homes in Manteca are selling for less than the cost to construct and pay required fees on a new home. A 1,510 square foot resale home at 1457 Ridgecrest Drive closed escrow Feb. 4 for $130,000, which is $55,000 less than the construction and fee costs of a comparable new build. This trend is part of a broader California pattern noted by Wells Fargo CEO John Stumpf, who stated that homes are selling for less than it would cost to build them new. In Manteca, 131 resale homes closed escrow in the first seven weeks of 2009 with a median selling price of $179,900. For a new build, a 1,572 square foot home at 1013 Barbados Street costs $124,258 for the foundation, walls, and roof, plus over $60,000 in water, sewer, and growth fees. The total cost to construct and the pay required fees for the Barbados Street home is over $185,000.

This shift in affordability is driven by a surge in distressed properties. More than 90 percent of the 1,296 resale homes that closed escrow in Manteca over the last 13 months were either foreclosures or short sales. The median selling price so far in 2009 is $179,900, which is 2.9 times the median household income of $62,000.

Related Brief1d ago
real estate

Beijing New Home Sales Rise as Lower Prices Meet Better Locations

New home sales in Beijing topped 3,711 units as of April 13, an increase over the 3,552 units sold in March. Six of 13 projects launched or updated after March 20 sold over 40 percent of their units. In Changping district, the Future City · Star Universe Era project sold 91 percent of available homes by April 12, while Guoxianfu PARK sold 83 percent. This demand follows the release of new real estate market policies in December. Developers introduced projects with lower prices, smaller shared areas, and higher design standards. Homes priced between CNY4 million and CNY6 million, which were previously located in remote areas with incomplete facilities, are now available in locations with mature commercial facilities and rail transit. This shift in location and pricing has stimulated buyers' demand to improve housing conditions.

FHA loan rule change

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