tag:blogger.com,1999:blog-2232381063381738762024-03-08T01:45:02.351-08:00DQNews Press ReleasesDQNews Press ReleasesUnknownnoreply@blogger.comBlogger223125tag:blogger.com,1999:blog-223238106338173876.post-48877430653028685392015-03-18T14:08:00.003-07:002015-03-18T14:08:39.330-07:00February California Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/RRCA150318.aspx">California February Home Sales</a></h1><br />
March 18, 2015 <br />
<br />
An estimated 25,585 new and existing houses and condos sold in California in February 2015. That was up 1.0 percent month over month from 25,325 sales in January 2015 and down 0.4 percent year over year from 25,680 sales in February 2014. <br />
<br />
February home sales have varied from a low of 20,513 sales in 2008 to a high of 48,409 sales in 2004. The February 2015 sales were the lowest for that month since 2008, and they were 18.7 percent lower than the February average of 31,454 sales since 1988, when CoreLogic DataQuick data began. <br />
<br />
The median price paid for a home in California in February 2015 was $378,000, up 0.5 percent month over month from $376,000 in January 2015 and up 6.5 percent year over year from $355,000 in February 2014. <br />
<br />
February 2015 marked the 36th consecutive month in which the state's median sale price increased on a year-over-year basis. The peak year-over-year price gain during that period was 29.2 percent in July 2013. Since then price gains have trended lower and since July 2014 the year-over-year increases have been single-digit – between about 6 percent and 7 percent from October 2014 through February 2015. <br />
<br />
The February 2015 median sale price was 21.9 percent lower than California’s peak median price of $484,000, reached in March/April/May 2007. <br />
<br />
Of the existing homes sold statewide in February 2015, 6.8 percent were properties that had been foreclosed on during the previous 12 months. That was up from a revised 6.7 percent in January 2015 and down from 8.0 percent in February 2014. Statewide foreclosure resales peaked at 58.8 percent in February 2009. <br />
<br />
Short sales made up an estimated 6.2 percent of homes that resold in February 2015, down slightly month over month from 6.7 percent in January 2015 and down year over year from 9.0 percent in February 2014. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
The typical monthly mortgage payment for California homebuyers in February 2015 was $1,394, up from $1,379 in January 2015 and down from $1,405 in February 2014. Adjusted for inflation, the February 2015 typical payment was 39.7 percent below the typical payment in the spring of 1989, which was the peak of the prior real estate cycle. It was 51.1 percent below the current cycle's peak in June 2006 and 51.2 percent above the January 2012 trough of the current cycle. <br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright 2015 CoreLogic. All rights reserved. <br />
Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-223238106338173876.post-60941665352336693452015-03-18T10:05:00.003-07:002015-03-18T10:05:50.223-07:00February Bay Area Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/Bay-Area/RRBay150318.aspx">Bay Area February Home Sales Decline; Smaller Gain for Median Sale Price </a></h1><br />
March 18, 2015<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its February 2015 San Francisco Bay Area housing market report. The number of homes sold was slightly lower than in January and was the lowest for the month of February in seven years. The median price paid for a home also fell slightly from January and the gain from a year earlier was the smallest since the median sale price began rising on a year-over-year basis nearly three years ago. <br />
<br />
A total of 4,376 new and existing houses and condos sold in the nine-county Bay Area in February 2015. That was down 1.1 percent month over month from 4,423 sales in January 2015 and down 10.9 percent year over year from 4,911 sales in February 2014, according to CoreLogic DataQuick data. <br />
<br />
February 2015 sales were the lowest for that month since February 2008, when 3,989 homes sold. The peak for February home sales was in 2002, when 8,901 homes sold. The February 2015 sales tally was 28.6 percent below the historical February average of 6,129 sales. <br />
<br />
The median price paid for a home in the Bay Area was $565,000 in February 2015. That was down 1.2 percent month over month from $572,000 in January 2014 and up 4.6 percent year over year from $540,000 in February 2014. <br />
<br />
The region's median sale price has risen year over year for 35 straight months, beginning in April 2012. During the 25 months between June 2012 and June 2014, those gains were double-digit, reaching as high as 33.5 percent. The annual gains were either single-digit or low double-digit between July 2014 and October 2014, and since November 2014 the year-over-year increases in the median sale price have been single-digit. The February 2015 median sale price’s 4.6 percent year-over-year gain compared with February 2014 marked the smallest annual increase for any month since the median price began rising year over year in April 2012. In comparison, the February 2014 median sale price rose 33.3 percent from February 2013. <br />
<br />
The Bay Area median sale price peaked at $665,000 in June and July 2007 and dropped to a post-boom low of $290,000 in March 2009. <br />
<br />
“February is always a bit odd from a numbers standpoint. March should provide a better view of emerging trends this year,” said Andrew LePage, CoreLogic DataQuick data analyst. “That said, it is easy to see that supply is still constrained. It’s also clear the mortgage market remains off-kilter. Home loans are readily available for those who have good credit, a W-2 income and who are applying for a government-backed mortgage. But it can still be challenging for others, such as the self-employed and retired, even for those with a high income or significant assets, or both.” <br />
<br />
<b>Other February 2015 Bay Area housing market highlights include the following:<br />
</b><br />
•Adjustable-rate mortgages (ARMs), an indicator of mortgage availability, accounted for 20.5 percent of the Bay Area’s home purchase loans in January, down from a revised 22.0 percent in December 2014, and down from 25.1 percent in January 2014. ARMs hit a low of 3.0 percent of purchase loans in January 2009 and reached a post-housing-bust peak of 27.8 percent in April 2014. Since 2000, ARMs have accounted for about 46 percent of all Bay Area purchase loans. <br />
<br />
•Foreclosure resales accounted for 4.5 percent of all resales in February, up from a revised 4.4 percent in January 2015 and down from 5.0 percent in February 2014. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average over the past 17 years is about 10 percent. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months. <br />
<br />
•Short sales accounted for an estimated 4.8 percent of Bay Area resales in February, down from a revised 5.2 percent in January 2015 and down from 6.3 percent in February 2014. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
•Absentee buyers – mostly investors – purchased 24.8 percent of all Bay Area homes sold in February, up from a revised 23.8 percent in January 2015 and up from 23.8 percent in February 2014. The peak absentee share was 28.7 percent in February 2013, and the monthly average since 2000, when CoreLogic DataQuick absentee data began, is about 17 percent. <br />
<br />
•Cash buyers accounted for 26.7 percent of home sales in February, up from a revised 23.6 percent in January 2015 and down from 28.4 percent in February 2014. The peak was 32.3 percent in February 2013, and the monthly average since 1988 is about 14 percent. <br />
<br />
•The typical monthly mortgage payment for Bay Area home buyers in February 2015 was $2,083. Adjusted for inflation, that payment was 26.9 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 46.0 percent below the current cycle's peak in July 2007 and 65.5 percent above the February 2012 bottom of the current cycle. <br />
Because of late data availability, sales were estimated in San Mateo County. <br />
<br />
To view the county-by-county home sale chart, please visit <a href="http://www.dqnews.com/Articles/2015/News/California/Bay-Area/RRBay150318.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick. Data available at DQNews.com<br />
© 2015 CoreLogic, Inc. All rights reserved. Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-223238106338173876.post-13786568256850191942015-03-17T10:46:00.001-07:002015-03-17T10:46:19.778-07:00February Southland Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/Southern-CA/RRSCA150317.aspx">Southern California Home Sales Dip Year Over Year Again; Median Price Edges Higher<br />
</a></h1>March 17, 2015<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its February 2015 Southern California housing market report, which shows the number of homes sold rose slightly from January but hit the lowest level for a February in seven years. Also according to the report, the median price paid for a home, which hasn’t changed much since last fall, inched up from January and rose year over year for the 35th consecutive month. <br />
<br />
A total of 13,650 new and existing houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in February 2015. That was up 0.7 percent month over month from 13,560 sales in January 2015, and down 2.7 percent year over year from 14,027 sales in February 2014, according to CoreLogic DataQuick data. <br />
<br />
On average, Southern California home sales have increased 0.7 percent between the months of January and February since 1988, when CoreLogic DataQuick data began. Sales have fallen on a year-over-year basis in 15 out of the last 17 months. <br />
<br />
February home sales have ranged from a low of 10,777 in 2008 to a high of 26,587 in 2004. February 2015 sales were 21.6 percent below the February average of 17,420 sales since 1988. <br />
<br />
"This feels a lot like early 2014, with home sales off to a slow start as many would-be home buyers struggle with inventory constraints, credit hurdles and reduced affordability," said Andrew LePage, data analyst for CoreLogic DataQuick. "And just like a year ago, one of the big questions hanging over the market is whether we'll see a sizeable jump in inventory this spring and summer. A nearly three-year stretch of price appreciation has given many more owners enough equity to sell their homes and buy another. Recent job growth has helped fuel housing demand and if that’s met with only a modest rise in the supply of homes for sale it will put upward pressure on prices. Of course, the direction of mortgage rates, among other factors, will also play a role in determining how the housing market shapes up this year." <br />
<br />
The median price paid for all new and existing houses and condos sold in the six-county Southern California region in February 2015 was $415,000, up 1.5 percent month over month from $409,000 in January 2015 and up 8.4 percent year over year from $383,000 in February 2014. The median hasn't changed significantly since September 2014, when it was $413,000. The median's 2014 peak was $420,000 in August. <br />
<br />
The median sale price in Southern California has risen on a year-over-year basis each month since April 2012. In the 22 months between August 2012 and May 2014 those annual gains were double digit, as high as 28.3 percent in June 2013. Since then, the year-over-year increases in the median sale price have been single-digit. The February 2014 median price rose 19.7 percent compared with February 2013 – more than double the 8.4 percent gain when comparing February 2015 with February 2014. <br />
<br />
The February 2015 median sale price was 17.8 percent below the peak median price of $505,000 reached in March, April, May and July of 2007. Among the region’s six counties, the February 2015 median in Orange County ($590,750) was the closest – within 8.4 percent – to its peak of $645,000 in June 2007. <br />
<br />
The number of Southern California homes that sold for $500,000 or more in February 2015 rose 3.9 percent compared with February 2014. Sales below $500,000 fell 9.4 percent year over year, and sales below $200,000 dropped 26.1 percent. <br />
<br />
<b>Other Southern California housing market highlights from February 2015 include the following:<br />
</b><br />
• Foreclosure resales represented 6.0 percent of the resale market in February. That was up from a revised 5.7 percent in January 2015 and down from 6.7 percent in February 2014. In recent months the foreclosure resale rate has been the lowest since early 2007. In the current cycle, foreclosure resales hit a high of 56.7 percent in February 2009. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months. <br />
<br />
• Short sales made up an estimated 6.1 percent of resales in February, down from a revised 6.6 in January 2015 and down from 9.0 percent in February 2014. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
• Absentee buyers – mostly investors – bought 26.7 percent of the homes sold in February. That was up from a revised 26.3 percent in January 2015 and down from 28.9 percent in February 2014. The peak absentee share was 32.4 percent in January 2013, and the monthly average since 2000, when CoreLogic DataQuick absentee data began, is about 19 percent. Absentee buyers include those who purchase vacation homes or other properties that public property records suggest are not used as primary residences. <br />
<br />
• Cash buyers accounted for 28.0 percent of February home sales, up from a revised 26.4 percent in January 2015 and down from 31.0 percent in February 2014. The peak cash share was 36.9 percent in February 2013, and the monthly average since 1988 is about 17 percent. <br />
<br />
• The typical monthly mortgage payment for Southern California home buyers in February was $1,530, up from $1,501 in January 2015 and up from $1,516 in February 2014. Adjusted for inflation, the February 2015 typical payment was 36.1 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was also 47.7 percent below the current cycle’s peak in July 2007.<br />
<br />
To view the county-by-county home sale chart, please visit <a href="http://www.dqnews.com/Articles/2015/News/California/Southern-CA/RRSCA150317.aspx">DQNews.com</a>.<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-68093292506347423402015-02-18T13:39:00.002-08:002015-02-18T13:39:23.262-08:00January California Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/RRCA150218.aspx">California January Home Sales</a></h1><br />
February 18, 2015 <br />
<br />
An estimated 25,325 new and resale houses and condos sold in California in January 2015. That was down month over month by 30.6 percent from 36,468 sales in December 2014 and down year over year by 2.0 percent from 25,832 sales in January 2014. <br />
<br />
January home sales have varied from a low of 19,145 sales in 2008 to a high of 47,138 sales in 2004. The January 2015 sales were 18.8 percent lower than the January average of 31,177 sales since 1988, when CoreLogic DataQuick data began. California sales haven’t been above average for any particular month in more than eight years. <br />
<br />
The median price paid for a home in California in January 2015 was $376,000, down month over month by 3.1 percent from $388,000 in December 2014 and up year over year by 6.5 percent from $353,000 in January 2014. <br />
<br />
January 2015 marked the 35th consecutive month in which the state's median sale price has increased on a year-over-year basis. The peak year-over-year price gain during that period was 29.2 percent in July 2013. Since then price gains have trended lower and since July 2014 the year-over-year increases have been single-digit – between about 6 percent and 7 percent from October 2014 through January 2015. <br />
<br />
The January 2015 median price was 22.3 percent lower than California’s peak median price of $484,000, reached in March/April/May 2007, and it was 70.1 percent higher than the post-peak trough of $221,000 in April 2009. That trough was reached during a period when distressed property sales were at unusually high levels and sales of mid- to high-end homes were at relatively low levels. <br />
<br />
Of the existing homes sold statewide in January 2015, 6.7 percent were properties that had been foreclosed on during the past year. That was up from a revised 6.0 percent in December 2014 and down from 7.7 percent in January 2014. Foreclosure resales peaked at 58.8 percent in February 2009. <br />
<br />
Short sales made up an estimated 6.4 percent of homes that resold in January 2015, up slightly month over month from 6.3 percent in December 2014 and down year over year from 10.7 percent in January 2014. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
The typical monthly mortgage payment for California homebuyers in January 2015 was $1,379, down from $1,457 in December 2014 and down from $1,426 in January 2014. Adjusted for inflation, the January 2015 typical payment was 40.6 percent below the typical payment in the spring of 1989, which was the peak of the prior real estate cycle. It was 51.8 percent below the current cycle's peak in June 2006 and 49.0 percent above the January 2012 trough of the current cycle. <br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright 2015 CoreLogic. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-12578641533056204322015-02-18T11:07:00.000-08:002015-02-18T11:07:00.220-08:00January Bay Area Region Home Sales Press Release<a href="http://www.dqnews.com/Articles/2015/News/California/Bay-Area/RRBay150218.aspx"><h1>Bay Area January Home Sales Slowest in Seven Years; Single-Digit Annual Price Gain</h1></a><br />
<br />
February 18, 2015<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its January 2015 San Francisco Bay Area housing market report. January home sales dropped sharply month over month, which is normal for the season, and dipped year over year to the lowest level for a January in seven years. The median price paid for a home in January also declined sharply month over month – another seasonal norm – but it rose 9 percent from a year earlier, marking the 34th straight month with a year-over-year price gain. <br />
<br />
A total of 4,439 new and resale houses and condos sold in the nine-county Bay Area in January 2015. That was down month over month by 40.5 percent from 7,456 sales in December 2014 and down year over year by 5.5 percent from 4,696 sales in January 2014, according to CoreLogic DataQuick data. <br />
<br />
Bay Area sales have fallen an average of 28.5 percent between the months of December and January since 1988, when CoreLogic DataQuick data began. <br />
<br />
January 2015 sales were the lowest for that month since 3,586 homes sold in January 2008, which is the trough for January home sales in CoreLogic DataQuick’s statistics. The peak for January home sales was in 2005, when 8,298 homes sold. The January 2015 sales tally was 25.8 percent below the historical January average of 5,985 sales. <br />
<br />
The median price paid for a home in the Bay Area was $572,000 in January 2015. That was down month over month by 5.1 percent from $603,000 in December 2014 and up year over year by 9.0 percent from $525,000 in January 2014. Although January 2015 marked the 34th consecutive month with a year-over-year gain in the median sale price, those annual increases slipped from double-digit to single-digit gains in the last few months. In January 2014 the region’s median price rose by 26.5 percent compared with January 2013 – nearly triple the gain when comparing January 2015 to January 2014. <br />
<br />
The Bay Area median sale price peaked at $665,000 in June and July 2007 and dropped to a post-boom low of $290,000 in March 2009. <br />
<br />
“January isn’t really a bellwether month when it comes to housing trends. For that we’ll have to wait until spring,” said Andrew LePage,” CoreLogic DataQuick data analyst. “But the latest data do indicate the market continues to struggle with challenges that many in the industry hoped would be resolved last year – challenges such as inactive groups of buyers and sellers and a mortgage market that remains difficult for many. More job and income growth, coupled with low mortgage rates, could fuel demand this year in a market still running short on supply and struggling with affordability constraints. It will be interesting to see whether recent home price appreciation will trigger a more pronounced ‘supply response’ – an increase in the number of homes listed for sale.” <br />
<br />
<b>Other January 2015 Bay Area housing market highlights include the following:<br />
</b><br />
<br />
•Adjustable-rate mortgages (ARMs), an indicator of mortgage availability, accounted for 20.5 percent of the Bay Area’s home purchase loans in January, down from a revised 22.0 percent in December 2014, and down from 25.1 percent in January 2014. ARMs hit a low of 3.0 percent of purchase loans in January 2009 and reached a post-housing-bust peak of 27.8 percent in April 2014. Since 2000, ARMs have accounted for about 46 percent of all Bay Area purchase loans. <br />
<br />
•Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 52.3 percent of purchase lending in January, down from a revised 54.5 percent in December 2014, and up from 46.1 percent in January 2014. Jumbo usage dropped to as low as 17.1 percent in January 2009. Prior to the August 2007 credit crunch, jumbo loans accounted for more than 60 percent of the Bay Area’s home purchase loans. <br />
<br />
•Foreclosure resales accounted for 4.5 percent of all resales in January, up from a revised 3.6 percent in December 2014 and down from 5.2 percent in January 2014. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average over the past 17 years is about 10 percent. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months. <br />
<br />
•Short sales made up an estimated 4.0 percent of Bay Area resales in January, the same as in December 2014 and down from 8.5 percent in January 2014. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
•Absentee buyers – mostly investors – purchased 21.0 percent of all Bay Area homes sold in January, up from a revised 19.0 percent in December 2014 and down from 24.5 percent in January 2014. The November 2014 absentee share (18.3 percent) was the lowest for any month since August 2010, when it was 17.8 percent. The peak absentee share was 28.7 percent in February 2013, and the monthly average since 2000, when CoreLogic DataQuick absentee data began, is about 16 percent. <br />
<br />
•Cash buyers accounted for 22.6 percent of home sales in January, up from 18.2 percent in December 2014 and down from 25.8 percent in January 2014. The December 2014 cash level was the lowest for any month since September 2008, when it was 17.7 percent. The peak was 32.3 percent in February 2013, and the monthly average since 1988 is about 14 percent. <br />
<br />
•Bay Area home buyers used $1.44 billion of their own money in the form of a down payment or as an outright cash purchase in January 2015. They borrowed $2.09 billion in mortgage money from lenders. <br />
<br />
•The typical monthly mortgage payment for Bay Area home buyers in January 2015 was $2,099. Adjusted for inflation, that payment was 26.7 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 45.8 percent below the current cycle's peak in July 2007 and 66 percent above the February 2012 bottom of the current cycle. <br />
Because of late data availability, sales were estimated in San Mateo County. <br />
<br />
To view the county-by-county chart, please visit <a href="http://www.dqnews.com/Articles/2015/News/California/Bay-Area/RRBay150218.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick. Data available at DQNews.com<br />
© 2015 CoreLogic, Inc. All rights reserved.<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-78661241862968180582015-02-17T10:23:00.001-08:002015-02-17T10:23:14.881-08:00January Southland Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/Southern-CA/RRSCA150217.aspx">Southern California Home Sales Decline; Median Sale Price Still Up Year Over Year</a></h1><br />
February 17, 2015<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its January 2015 Southern California housing market report. Home sales in January fell sharply from December, as they normally do, and dipped modestly from a year earlier, marking the 14th month in the last 16 to post a year-over-year sales decline. The median price paid for a home in the six-county region also dropped month over month but rose year over year for the 34th consecutive month, although that increase was less than half the gain of a year earlier. <br />
<br />
A total of 13,560 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in January 2015. That was down month over month 29.4 percent from 19,205 sales in December 2014, and down year over year 6.3 percent from 14,471 sales in January 2014, according to CoreLogic DataQuick data. <br />
<br />
On average, Southern California sales have fallen 27.6 percent between December and January since 1988, when CoreLogic DataQuick data began. <br />
<br />
January home sales have ranged from a low of 9,983 in 2008 to a high of 26,083 in 2004. January 2015 sales were 21.7 percent below the January average of 17,322 sales since 1988. <br />
<br />
"The January and February statistics are always interesting, and sometimes a bit strange, but they're not necessarily a good indication of what's to come," said Andrew LePage, data analyst for CoreLogic DataQuick. "That's largely because many traditional buyers and sellers drop out of the housing market during the holidays and mid winter, and therefore don’t close deals during those months. In recent years that's led to somewhat higher concentrations of investor activity for January and February, and we saw that again last month. Heading into spring it will be interesting to see whether price appreciation and other factors will finally release a lot of the pent-up supply of homes out there. More owners have gained enough equity to sell and buy another home and more will be satisfied with how much their homes can fetch. At the same time, recent gains in job and income growth, coupled with low mortgage rates, could stoke demand and put significant pressure on prices unless we see a meaningful jump in inventory.” <br />
<br />
The median price paid for all new and resale houses and condos sold in the six-county region in January 2015 was $409,000, down 1.4 percent month over month from $415,000 in December 2014 and up 7.6 percent year over year from $380,000 in January 2014. The median hasn't changed significantly since September 2014, when it was $413,000. The median's peak for 2014 was $420,000 in August. <br />
<br />
Southern California's median sale price has risen on a year-over-year basis each month since April 2012. In the 22 months between August 2012 and May 2014 those annual gains were double digit, as high as 28.3 percent in June 2013. Since then, the year-over-year increases in the median sale price have been single-digit. In January 2014 the median rose 18.4 percent compared with January 2013 – more than twice the 7.6 percent gain when comparing January 2015 with January 2014. <br />
<br />
The January 2015 median sale price was 19.0 percent below the peak median price of $505,000 reached in March, April, May and July of 2007. Among the region’s six counties, the January 2015 median in Orange County ($562,500) was the closest – within 12.8 percent – to its peak of $645,000 in June 2007. <br />
<br />
Home prices in Southern California have been rising at different rates depending on price segment. In January 2015, the lowest-cost third of the region's housing stock experienced a 9.0 percent year-over-year increase in the median price paid per square foot for resale single-family detached houses. The annual gain was 5.7 percent for the middle third of the market and 3.2 percent for the top, most-expensive third. <br />
<br />
The number of homes that sold for $500,000 or more in January 2015 rose 2.0 percent compared with January 2014. Sales below $500,000 fell 13.8 percent year over year, and sales below $200,000 dropped 30.3 percent. <br />
<br />
<b>Other Southern California housing market highlights from January 2015 include the following:</b><br />
<br />
•Foreclosure resales represented 5.7 percent of the resale market in January. That was up from a revised 5.3 percent in December 2014 and down from 6.6 percent in January 2014. In recent months the foreclosure resale rate has been the lowest since early 2007. In the current cycle, foreclosure resales hit a high of 56.7 percent in February 2009. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months. <br />
<br />
•Short sales made up an estimated 6.5 percent of resales in January, up from a revised 6.2 in December 2014 and down from 10.7 percent in January 2014. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
•Absentee buyers – mostly investors – bought 25.0 percent of the homes sold in January. That was up from a revised 23.6 percent in December 2014 and down from 27.6 percent in January 2014. The December 2014 absentee level tied the October 2014 level as the lowest for any month since October 2010, when 22.1 percent of homes were sold to absentee buyers. The peak absentee share was 32.4 percent in January 2013, and the monthly average since 2000, when CoreLogic DataQuick absentee data began, is about 19 percent. Absentee buyers include those who purchase vacation homes or other properties that public property records suggest are not used as primary residences. <br />
<br />
•Cash buyers accounted for 24.6 percent of January home sales, up from a revised 22.2 percent in December 2014 and down from 29.9 percent in January 2014. The December 2014 cash share was the lowest for any month since January 2009, when 22.0 percent of homes were bought with cash. The peak was 36.9 percent in February 2013, and the monthly average since 1988 is about 17 percent. <br />
<br />
•Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 30.7 percent of purchase lending in January, down from a revised 32.1 percent in December 2014 and up from 26.6 percent in January 2014. The July/August 2014 level of 32.3 percent was the highest since the credit crunch struck in August 2007. Prior to August 2007, jumbo loans accounted for around 40 percent of the home-loan market. The jumbo level dropped to as low as 9.3 percent in January 2009. <br />
<br />
•Adjustable-rate mortgages (ARMs) represented 11.3 percent of home purchase loans in January, down from 12.3 percent in December 2014 and down from 13.5 percent in January 2014. The ARM share dropped to as low as 1.9 percent of home purchase loans in May 2009. Since 2000, a monthly average of about 30 percent of purchase loans have been ARMs. <br />
<br />
•The typical monthly mortgage payment for Southern California home buyers in January was $1,501, down from $1,558 in December 2014 and down from $1,528 in January 2014. Adjusted for inflation, the January 2015 typical payment was 37.7 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was also 48.9 percent below the current cycle’s peak in July 2007. <br />
<br />
To view the county-by-county home sale chart, please visit <a href="http://www.dqnews.com/Articles/2015/News/California/Southern-CA/RRSCA150217.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick. Data available at DQNews.com<br />
Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Copyright 2015 CoreLogic. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-58699663351649622692015-01-15T13:55:00.005-08:002015-01-15T13:55:49.663-08:00December California Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/RRCA150115.aspx">California December Home Sales</a></h1><br />
An estimated 36,468 new and resale houses and condos were sold in California in December 2014. That was up month over month by 23.8 percent from 29,459 sales in November 2014, and up year over year by 4.3 percent from 34,949 sales in December 2013. <br />
<br />
December home sales have varied from a low of 25,585 sales in 2007 to a high of 66,503 sales in 2003. The December 2014 sales were 15.7 percent lower than the December average of 43,285 sales since 1988, when CoreLogic DataQuick data began. California sales haven’t been above average for any particular month in more than eight years. <br />
<br />
The median price paid for a home in California in December 2014 was $388,000, up month over month by 1.8 percent from $381,000 in November 2014 and up year over year by 6.3 percent from $365,000 in December 2013. <br />
<br />
December 2014 marked the 34th consecutive month in which the state's median sale price has increased on a year-over-year basis. The peak year-over-year price gain was 29.2 percent in July 2013. Since then the annual gains have generally trended downward and have been single-digit since July 2014. <br />
<br />
The December 2014 median price was 19.8 percent lower than California’s peak median price of $484,000, reached in March/April/May 2007, and it was 75.6 percent higher than the post-peak trough of $221,000 in April 2009. That trough was reached during a period when distressed property sales were at unusually high levels and sales of mid- to high-end homes were at relatively low levels. <br />
<br />
Of the existing homes sold statewide in December 2014, 5.7 percent were properties that had been foreclosed on during the past year. That was down from a revised 5.9 percent in November 2014 and down from 6.9 percent in December 2013. Foreclosure resales peaked at 58.8 percent in February 2009. <br />
<br />
Short sales made up an estimated 6.3 percent of homes that resold in December 2014, up slightly month over month from 6.2 percent in November 2014 and down year over year from 10.3 percent in December 2013. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
The typical monthly mortgage payment for California homebuyers in December 2014 was $1,457, up from $1,455 in November 2014 and down from $1,473 in December 2013. Adjusted for inflation, the December 2014 typical payment was 37.8 percent below the typical payment in the spring of 1989, which was the peak of the prior real estate cycle. It was 49.6 percent below the current cycle's peak in June 2006 and 56.1 percent above the January 2012 trough of the current cycle. <br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright 2015 CoreLogic. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-10938589885972279762015-01-15T10:22:00.000-08:002015-01-15T10:22:03.493-08:00December Bay Area Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/Bay-Area/RRBay150115.aspx">Bay Area Home Sales and Prices Rise in December 2014</a></h1><br />
January 15, 2015<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its December San Francisco Bay Area housing market report. Home buying picked up steam late in 2014, with December posting strong month-over-month and year-over-year sales gains. Price appreciation remained lower than it had been earlier in 2014, but the median sale price, which has moved little since late last summer, was still nearly 10 percent higher than it was the same time a year earlier. <br />
<br />
A total of 7,456 new and resale houses and condos sold in the nine-county Bay Area in December 2014. That was up month over month 24.2 percent from 6,003 in November 2014 and up year over year 14.1 percent from 6,532 in December 2013, according to CoreLogic DataQuick data. <br />
<br />
A rise in sales from November to December is normal for the season. Bay Area sales have risen an average of 9.6 percent between those two months since 1988, when CoreLogic DataQuick data began. <br />
<br />
The region’s monthly home sales have ranged between 7,000 and 8,000 for seven of the last nine months. Since 1988, December sales have varied from a low of 5,065 in 2007 to a high of 12,349 in 2003, and the December 2014 sales were 12.1 percent below the December average of 8,482. <br />
<br />
The median price paid for a home in the Bay Area was $603,000 in December 2014. That was up month over month by 0.3 percent from $601,000 in November 2014 and up year over year 9.9 percent from $548,500 in December 2013. December 2014 was the 33rd consecutive month with a year-over-year gain in the median sale price. However, those annual increases slipped from double-digit to single-digit in the last two months of 2014. In December 2013 the region’s $548,500 median was 23.9 percent higher than in December 2012. <br />
<br />
The Bay Area median sale price peaked at $665,000 in June and July 2007 and dropped to a post-boom low of $290,000 in March 2009. <br />
<br />
“The Bay Area’s residential real estate market ended 2014 on a cautiously optimistic note, with moderate year-over-year increases in both median price and sales counts,” said John Karevoll, CoreLogic DataQuick analyst. “Supply continues to be constrained, and the mortgage market remains difficult. As long-term trends, cash sales and investor purchases are declining slowly, but they are still significant market factors. We know that there is a significant amount of pent-up demand lying in wait, and there is a good chance the market could see a surge this spring and summer as more homes are put up for sale.” <br />
<br />
<b>Other December 2014 Bay Area housing market highlights include the following:</b><br />
<br />
•Adjustable-rate mortgages (ARMs), an important indicator of mortgage availability, accounted for 22.3 percent of the Bay Area’s home purchase loans in December 2014, down from a revised 23.6 percent in November 2014, and up from 22.2 percent in December 2013. ARMs hit a low of 3.0 percent of purchase loans in January 2009 and reached a post-housing-bust peak of 27.8 percent in April 2014. Since 2000, ARMs have accounted for 46.2 percent of all Bay Area purchase loans. <br />
<br />
•Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 54.1 percent of purchase lending in December 2014, down from a revised 56.4 percent in November 2014, and up from 48.2 percent in December 2013. Jumbo usage dropped to as low as 17.1 percent in January 2009. It reached 56.4 percent in May 2014 and has stayed close to that percentage since. Prior to the August 2007 credit crunch, jumbo loans accounted for more than 60 percent of the Bay Area’s home purchase loans. <br />
<br />
•Foreclosure resales accounted for 3.7 percent of all resales in December 2014, up from 2.8 percent in November 2014, and down from 4.6 percent in December 2013. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average over the past 17 years is 9.6 percent. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months. <br />
<br />
•Short sales made up an estimated 4.0 percent of Bay Area resales in December 2014, up from a revised 3.9 percent in November 2014 and down from 7.9 percent in December 2013. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
•Absentee buyers – mostly investors – purchased 18.3 percent of all Bay Area homes in December 2014, up insignificantly from a revised 18.2 percent in November 2014 and down from 22.5 percent in December 2013. The November 2014 absentee level was the lowest for any month since August 2010, when it was 17.8 percent. The peak absentee share was 28.7 percent in February 2013, and the monthly average since 2000, when CoreLogic DataQuick absentee data began, is 15.7 percent. <br />
<br />
•Cash buyers accounted for 19.0 percent of home sales in December 2014 – the lowest for any month since the cash buyer level was 18.5 percent in October 2008. The December 2014 absentee level was down slightly from a revised 19.3 percent in November 2014 and down from 23.5 percent in December 2013. The peak was 32.3 percent in February 2013, and the monthly average since 1988 is 13.7 percent. <br />
<br />
•Bay Area home buyers used $2.18 billion of their own money in the form of a down payment or as an outright cash purchase in December 2014. They borrowed $3.06 billion in mortgage money from lenders. <br />
<br />
•The typical monthly mortgage payment for Bay Area home buyers in December 2014 was $2,264. Adjusted for inflation, that payment was 21.6 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 42.0 percent below the current cycle's peak in July 2007 and 77.1 percent above the February 2012 bottom of the current cycle. <br />
<br />
<br />
To view the county-by-county home sale chart, please visit <a href="http://www.dqnews.com/Articles/2015/News/California/Bay-Area/RRBay150115.aspx">DQNews.com</a>.<br />
<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-65980773448476624252015-01-14T10:10:00.001-08:002015-01-14T10:11:37.802-08:00December Southern California Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2015/News/California/Southern-CA/RRSCA150114.aspx">Southern California Home Sales and Median Sale Price Rise</a></h1><br />
January 14, 2015<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its December Southern California housing market report. The number of homes sold increased sharply from the month of November and rose modestly from the same time a year earlier, marking one of just two months in 2014 to post a year-over-year gain in sales. The region’s median sale price also increased from November and rose year over year for the 33rd consecutive month, although that annual gain was the lowest since the string of price increases began in spring 2012. <br />
<br />
A total of 19,205 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in December 2014. That was up month over month 22.8 percent from 15,643 sales in November 2014, and up year over year 4.3 percent from 18,415 sales in December 2013, according to CoreLogic DataQuick data. <br />
<br />
Sales usually increase from November to December. On average, Southern California sales have risen 13.1 percent between those two months since 1988, when CoreLogic DataQuick data began. On a year-over-year basis, sales in 2014 fell each month except in September (+1.2 percent) and December. <br />
<br />
The total number of homes sold in Southern California in all of 2014 fell 8.7 percent compared with 2013. <br />
<br />
December home sales have ranged from a low of 13,240 in 2007 to a high of 36,865 in 2003. December 2014 sales were 20.2 percent below the December average of 24,067 sales since 1988. <br />
<br />
"One month doesn’t make a trend, but December’s uptick in home sales might indicate renewed interest in housing thanks to lower mortgage rates and job growth in recent months,” said Andrew LePage, data analyst for CoreLogic DataQuick. “The gain came despite a continued decline in the share of homes sold to investors and cash buyers. If demand continues to build we'll need more supply to keep up with it. One of the big questions hanging over the housing market is whether higher demand and home values will lead to a lot more people listing their homes for sale, as well as more new-home construction, which remains well below average.” <br />
<br />
The median price paid for all new and resale houses and condos sold in the six-county region in December 2014 was $415,000, up 0.7 percent month over month from $412,000 in November and up 5.1 percent year over year from $395,000 in December 2013. The median hasn't moved much since September 2014, when it was $413,000. The median's peak for 2014 was $420,000 in August. <br />
<br />
The region's median sale price has increased on a year-over-year basis for the past 33 consecutive months, but the 5.1 percent annual gain in December 2014 was the smallest since April 2012, when the $290,000 median rose 3.6 percent from a year earlier. <br />
<br />
Southern California's December median sale price was 17.8 percent below the peak median price of $505,000 reached in March, April, May and July of 2007. Among the region’s six counties, the December 2014 median in Orange County ($591,000) was the closest – within about 8 percent – to its peak of $645,000 in June 2007. <br />
<br />
Home prices in Southern California have been rising at different rates depending on price segment. In December, the lowest-cost third of the region's housing stock experienced a 12.9 percent year-over-year increase in the median price paid per square foot for resale single-family detached houses. The annual gain was 6.3 percent for the middle third of the market and 2.3 percent for the top, most-expensive third. <br />
<br />
The number of homes that sold for $500,000 or more in December 2014 rose 10.1 percent compared with December 2013. Sales below $500,000 rose 3.4 percent year over year, and sales below $200,000 dropped by 20.6 percent. <br />
<br />
<b><br />
Among the other Southern California housing market highlights from December 2014:</b><br />
<br />
•Foreclosure resales represented 5.0 percent of the resale market in December. That was down from a revised 5.5 percent in November 2014 and down from 5.8 percent in December 2013. In recent months the foreclosure resale rate has been the lowest since early 2007. In the current cycle, foreclosure resales hit a high of 56.7 percent in February 2009. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months. <br />
<br />
•Short sales made up an estimated 6.2 percent of resales in December, down from a revised 6.4 in November 2014 and down from 10.2 percent in December 2013. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
•Absentee buyers – mostly investors – bought 23.4 percent of the homes sold in December. That was down from a revised 23.8 percent in November 2014 and down from 26.9 percent in December 2013. The December 2014 absentee level ties the October 2014 level as the lowest for any month since October 2010, when 22.1 percent of homes were sold to absentee buyers. The peak absentee share was 32.4 percent in January 2013, and the monthly average since 2000, when CoreLogic DataQuick absentee data began, is about 19 percent. Absentee buyers include those who purchase vacation homes or other properties that public property records suggest are not used as primary residences. <br />
<br />
•Cash buyers accounted for 23.8 percent of December home sales, down from a revised 24.3 percent in November 2014 and down from 28.8 percent in December 2013. The December 2014 cash level was the lowest for any month since January 2009, when 22.0 percent of homes were bought with cash. The peak was 36.9 percent in February 2013, and the monthly average since 1988 is 16.7 percent. <br />
<br />
•Southern California home buyers committed a total of $4.43 billion of their own money in the form of down payments or all-cash purchases in December. That was up from a revised $3.47 billion in November 2014. The out-of-pocket total peaked in May 2013 at $5.41 billion. <br />
<br />
•Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 31.3 percent of purchase lending in December, up from a revised 30.5 percent in November 2014 and up from 28.5 percent in December 2013. The July/August 2014 level of 32.3 percent was the highest since the credit crunch struck in August 2007. Prior to August 2007, jumbo loans accounted for around 40 percent of the home-loan market. The jumbo level dropped to as low as 9.3 percent in January 2009. <br />
<br />
•Adjustable-rate mortgages (ARMs) represented 12.1 percent of home purchase loans in December, up from 12.0 percent in November 2014 and down from 13.0 percent in December 2013. The ARM share dropped to as low as 1.9 percent of home purchase loans in May 2009. Since 2000, a monthly average of about 30 percent of purchase loans have been ARMs. <br />
<br />
•All lenders combined provided a total of $6.19 billion in mortgage money to Southern California home buyers in December, up from a revised $4.88 billion in November 2014 and up from $5.40 billion in December 2013. <br />
<br />
•The typical monthly mortgage payment for Southern California home buyers in December was $1,558, down slightly from $1,560 in November 2014 and down from $1,594 in December 2013. Adjusted for inflation, the December 2014 typical payment was 35.6 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was also 47.3 percent below the current cycle’s peak in July 2007. <br />
<br />
To view the county-by-county home sale chart, please visit <a href="http://www.dqnews.com/Articles/2015/News/California/Southern-CA/RRSCA150114.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick. Data available at DQNews.com<br />
Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Copyright 2015 CoreLogic. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-29420856840845093482014-12-16T10:12:00.001-08:002014-12-16T10:14:38.698-08:00November Bay Area Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay141216.aspx">Bay Area Home Sales Slowest in Six Years; Single-Digit Price Increase</a></h1><br />
December 16, 2014<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its November San Francisco Bay Area housing market report. Home sales dropped to the lowest level for the month of November since 2008, the result of a limited number of homes for sale, cautious buyers, a challenging mortgage market and a quirk of the calendar that resulted in a relatively low number days for recording deals. The single-digit, year-over-year rise in the median sale price was the lowest since May 2012. <br />
<br />
A total of 6,003 new and resale houses and condos sold in the nine-county Bay Area in November 2014. That was down 22.0 percent from 7,693 in October of this year and down 9.9 percent from 6,659 in November 2013, according to CoreLogic DataQuick data. <br />
<br />
A decline in sales from October to November is normal for the season. It’s likely that this November’s sales decline from October was especially sharp because of a calendar issue: There were only 17 days on which home sales could be recorded at county recorders’ offices this November, compared with 22 or 23 days in October, depending on the county. Over the last decade, there has been an average of about 19 days for such recordings in the month of November. <br />
<br />
The November 2014 sales count was the lowest for any November since 5,756 homes sold in November 2008. Sales for the month of November have varied from 5,127 in 2007 to 11,906 in 2004. The average November sales since 1988, when CoreLogic DataQuick’s statistics begin, is 7,772. <br />
<br />
The median price paid for a home in the nine-county Bay Area was $601,000 in November. That was the same as in October and up 9.3 percent from $550,000 in November 2013. The year-over-year increase was the lowest since May 2012, when it was 7.5 percent. The Bay Area’s median sale price peaked at $665,000 in June and July 2007 and dropped to a post-boom low of $290,000 in March 2009. <br />
<br />
“Each calendar month has its own set of characteristics, its own personality. November is always kind of an interlude month, and the statistics aren’t really very good for predicting upcoming activity. That said, we did see a continuation of long-term trends: Low supply levels, a dysfunctional mortgage market and dormant market categories. This could change fast, and the big question then will be just how much pent-up demand is out there. No one knows,” said John Karevoll, CoreLogic DataQuick analyst. <br />
<br />
<b><br />
Other Bay Area housing market highlights from November 2014:</b><br />
<br />
• Adjustable-rate mortgages (ARMs), an important indicator of mortgage availability, accounted for 23.4 percent of the Bay Area’s home purchase loans in November, up from a revised 23.1 percent in October, and up from 20.1 percent in November 2013. ARMs hit a low of 3.0 percent of purchase loans in January 2009 and reached a post-housing-bust peak of 27.8 percent in April 2014. Since 2000, ARMs have accounted for 46.5 percent of all Bay Area purchase loans. <br />
<br />
•Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 56.9 percent of purchase lending in November, up from a revised 55.6 percent in October, and up from 50.0 percent in November 2013. Jumbo usage dropped to as low as 17.1 percent in January 2009. It reached 56.4 percent in May of this year and has stayed close to that percentage since. <br />
<br />
•Foreclosure resales accounted for 2.8 percent of all resales in November, unchanged from a revised 2.8 percent in October, and down from 3.7 percent in November 2013. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average over the past 17 years is 9.7 percent. Foreclosure resales are purchased homes that had been previously foreclosed upon in the prior 12 months. <br />
<br />
•Short sales made up an estimated 4.3 percent of Bay Area resales in November, up from an estimated 3.4 percent in October and down from 7.2 percent in November 2013. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
•Absentee buyers – mostly investors – purchased 18.6 percent of all Bay Area homes in November, which was the lowest absentee level for any month since September 2010, when it was 18.5 percent. This November's absentee level was down from a revised 19.2 percent in October, and down from 20.4 percent in November 2013. <br />
<br />
•Cash buyers accounted for 18.9 percent of sales in November – the lowest level for any month since it was 18.5 percent in October 2008. This November's absentee level was down from a revised 20.9 percent in October and down from 22.4 percent in November 2013. <br />
<br />
•Bay Area home buyers used $2.06 billion of their own money in the form of a down payment or as an outright cash purchase in November. They borrowed $3.05 billion in mortgage money from lenders. <br />
<br />
•The typical monthly mortgage payment that Bay Area buyers committed to in November was $2,268. Adjusted for inflation, that payment was 21.8 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 42.2 percent below the current cycle's peak in July 2007 and 77.1 percent above the February 2012 bottom of the current cycle. <br />
<br />
To view the county-by-county chart, please visit <a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay141216.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick. Data available at DQNews.com<br />
© 2014 CoreLogic, Inc. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-70542165476087664552014-12-15T10:22:00.001-08:002014-12-15T10:22:10.654-08:00November Southland Home Sales Press Release<h1><a href="http://dqnews.com/Articles/2014/News/California/Southern-CA/RRSCA141215.aspx">Southern California November Home Sales Fall Sharply; Median Sale Price Holds Steady Again</a></h1><br />
December 15, 2014<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its November Southern California housing market report. Home sales dropped to the lowest level for the month of November in seven years, the result of a relatively low number of days for recording deals, as well as fewer investor purchases and other market factors. There were also more signs of home prices flattening out: The region's median sale price has changed little over the last three months and November marked the sixth consecutive month in which the median had a single-digit year-over-year gain, following 22 months of double-digit increases. <br />
<br />
A total of 15,643 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in November 2014. That was down 18.8 percent from 19,271 sales in October, and down 9.5 percent from 17,283 sales in November 2013, according to CoreLogic DataQuick data. <br />
<br />
On average, Southern California sales have fallen 8.4 percent between October and November since 1988, when CoreLogic DataQuick data began. It’s likely that this November’s sales decline from October was especially sharp because of a calendar issue: There were only 17 days on which home sales could be recorded at county recorders' offices this November, compared with 22 or 23 days in October, depending on the county. Over the last decade, there has been an average of about 19 days for such recordings in the month of November. <br />
<br />
November home sales have ranged from a low of 13,173 in 2007 to a high of 31,987 in 1988. November 2014 sales were 26.7 percent below the November average of 21,340 sales. Between January and November of this year, home sales were down 9.8 percent from the same 11-month period in 2013. <br />
<br />
"Southern California home sales are closing on a low note in 2014,” said Andrew LePage, data analyst for CoreLogic DataQuick. “Inventory still lags demand in many markets and traditional buyers haven’t filled the void left by the investors who’ve pulled out. Among would-be buyers, affordability and mortgage availability remain as hurdles, as do concerns about job security and the direction of the housing market. But there are reasons to expect more housing demand ahead. According to recent data from the federal government, job and income growth has improved. Many people who became renters after a foreclosure or short sale over the past seven years will want to buy again. And potential home buyers sitting on the fence might be tempted to jump off if they see evidence that mortgage rates will spike from today’s exceptionally low levels.” <br />
<br />
The median price paid for all new and resale houses and condos sold in the six-county region in November 2014 was $412,000, up 0.5 percent from $410,000 in October and up 7.0 percent from $385,000 in November 2013. The median hasn't moved much since September this year, when it was $413,000. The median's peak for 2014 was $420,000 in August. <br />
<br />
Southern California's $412,000 November median sale price was 18.4 percent below the peak $505,000 median reached in March, April, May and July of 2007. Among the region’s six counties, the November 2014 median in Orange County ($585,000) was the closest – within about 9 percent – to its peak of $645,000 in June 2007. <br />
<br />
Home prices in Southern California have been rising at different rates depending on price segment. In November, the lowest-cost third of the region's housing stock saw a 12.9 percent year-over-year increase in the median price paid per square foot for resale single-family detached houses. The annual gain was 6.3 percent for the middle third of the market and 2.3 percent for the top, most-expensive third. <br />
<br />
The number of homes that sold for $500,000 or more this November fell 3.3 percent compared with November 2013. Sales below $500,000 fell 16.9 percent year-over-year, and sales below $200,000 dropped 35.4 percent. <br />
<br />
<b>Other Southern California housing market highlights from November 2014:</b><br />
<br />
•Foreclosure resales represented 5.3 percent of the Southern California resale market in November. That was up from a revised 4.9 percent in October and down from 6.3 percent a year earlier. In recent months the foreclosure resale rate has been the lowest since early 2007. In the current cycle, foreclosure resales hit a high of 56.7 percent in February 2009. Foreclosure resales are purchased homes that had been previously foreclosed upon in the prior 12 months. <br />
<br />
•Short sales made up an estimated 6.2 percent of resales in November, up from a revised 6.0 percent in October and down from 10.5 percent in November 2013. Short sales are transactions in which the sale price fell short of what was owed on the property. <br />
<br />
•Absentee buyers – mostly investors – bought 23.5 percent of the homes sold in November. That was up slightly from a revised 23.2 percent in October and down from 26.8 percent in November 2013. The October 2014 level was the lowest for any month since October 2010, when 22.1 percent of homes were sold to absentee buyers. The peak absentee share was 32.4 percent in January 2013, while the monthly average since 2000, when the CoreLogic DataQuick absentee data begin, is about 19 percent. Absentee buyers include those who purchase vacation homes or other properties that public property records suggest are not used as primary residences. <br />
<br />
•Cash buyers accounted for 23.9 percent of November home sales, up from 23.5 percent in October and down from 28.1 percent in November 2013. The October 2014 cash level was the lowest for any month since January 2009, when 22.0 percent of homes were bought with cash. The peak was 36.9 percent in February 2013, and since 1988 the monthly average is 16.7 percent. <br />
<br />
•Southern California home buyers committed a total of $3.28 billion of their own money in the form of down payments or all-cash purchases in November. That was down from a revised $4.09 billion in October. The out-of-pocket total peaked in May 2013 at $5.41 billion. <br />
<br />
•Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 31.0 percent of purchase lending in November, down from a revised 31.7 percent in October and up from 27.9 percent in November 2013. The July/August 2014 level of 32.3 percent was the highest since the credit crunch struck in August 2007. Prior to August 2007 jumbo loans accounted for around 40 percent of the home-loan market. The jumbo level dropped to as low as 9.3 percent in January 2009. <br />
<br />
•Adjustable-rate mortgages (ARMs) represented 12.3 percent of home purchase loans in November, down slightly from 12.9 percent in October and up from 11.2 percent in November 2013. The ARM share dropped to as low as 1.9 percent of home purchase loans in May 2009. Since 2000, a monthly average of about 30 percent of purchase loans have been ARMs. <br />
<br />
•All lenders combined provided a total of $4.78 billion in mortgage money to Southern California home buyers in November, down from a revised $6.1 billion in October and down from $4.93 billion in November 2013. <br />
<br />
•The typical monthly mortgage payment Southern California home buyers committed to was $1,560 in November, down from $1,574 in October and up from $1,517 in November 2013. Adjusted for inflation, the November 2014 typical payment was 35.9 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was also 47.5 percent below the current cycle’s peak in July 2007. <br />
<br />
To view the county-by-county home sale chart, please visit <a href="http://dqnews.com/Articles/2014/News/California/Southern-CA/RRSCA141215.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick. Data available at DQNews.com<br />
Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Copyright 2014 CoreLogic. All rights reserved.<br />
<br />
<br />
Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-223238106338173876.post-77720946619249178652014-11-13T13:00:00.003-08:002014-11-13T13:00:26.115-08:00October California Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/RRCA141113.aspx">California October Home Sales</a></h1><br />
November 13, 2014 <br />
<br />
An estimated 36,830 new and resale houses and condos sold statewide in October 2014. That was up 1.4 percent from 36,316 in September, and up 1.0 percent from 36,468 sales in October 2013. <br />
<br />
Statewide sales have increased slightly on a year-over-year basis for two consecutive months. The October sales tally was the highest for that month in two years. October sales have varied from a low of 25,832 in 2007 to a high of 70,152 in 2003. The October 2014 sales were 14.1 percent below the average of 42,860 sales for the month of October since 1988, when CoreLogic DataQuick data begin. California sales haven’t been above average for any particular month in more than eight years. <br />
<br />
The median price paid for a home in California in October was $382,000, down 1.8 percent from $389,000 in September and up 7.0 percent from $357,000 in October 2013. The median sale price has declined slightly month-over-month over the past two months. However, October marked the 32nd consecutive month in which the state's median price has been higher than a year earlier. Those year-over-year price increases peaked at 29.2 percent in July last year and since then they have gradually ratcheted down, with single-digit annual gains since July this year. <br />
<br />
The October 2014 median was 21.1 percent lower than California’s peak $484,000 median reached in March/April/May 2007, and it was nearly 73 percent higher than the post-peak trough of $221,000 in April 2009. (That trough was reached during a period when distressed property sales were at unusually high levels and sales of mid- to high-end homes were at relatively low levels.) <br />
<br />
Of the existing homes sold statewide in October, 5.3 percent were properties that had been foreclosed on during the past year. That was down from a revised 5.4 percent in September and down from 6.7 percent in October 2013. Foreclosure resales peaked at 58.8 percent in February 2009. <br />
<br />
Short sales - transactions where the sale price fell short of what was owed on the property - made up an estimated 6.1 percent of the homes that resold in October. That was up insignificantly from 6.0 percent in September and down from 10.3 percent in October 2013. <br />
<br />
The typical California monthly mortgage payment in October was $1,466, down from a revised $1,515 in September and up from $1,395 in October 2013. Adjusted for inflation, the October 2014 payment was 37.7 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 49.5 percent below the current cycle's peak in June 2006. It was 55.9 percent above the January 2012 bottom of the current cycle. <br />
<br />
Indicators of market distress continue to decline. Foreclosure activity remains well below year-ago and peak levels reached in the last five years. Financing with multiple mortgages is low, while down payment sizes are stable. <br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright 2014 CoreLogic. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-7544386346334739322014-11-13T10:18:00.000-08:002014-11-13T10:18:01.123-08:00October Bay Area Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay141113.aspx">San Francisco Bay Area Home Sales Edge Higher; Price Growth Ratchets Down Again</a></h1><br />
November 13, 2014<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its October San Francisco Bay Area homes sales report. The Bay Area housing market posted another modest uptick in sales during October but activity remained below average as cash purchases continued to taper off and buyers faced a limited inventory as well as affordability and mortgage availability challenges. Home prices appear to have plateaued in recent months, although the October median sale price was still about 11 percent higher than a year earlier. <br />
<br />
A total of 7,693 new and resale houses and condos sold in the nine-county San Francisco Bay Area in October 2014. That was up 3.4 percent from 7,443 in September and up 1.3 percent from 7,595 in October 2013, according to CoreLogic DataQuick data.. <br />
<br />
A small gain in sales from September to October is normal for the season. The October sales count was the highest for that month since 7,902 homes sold in October 2012. October sales have ranged from a low of 5,486 in 2007 to a high of 13,392 in 2003. October 2014 sales were 9.7 percent below the October average of 8,521 sales since 1988, when CoreLogic DataQuick’s data began. <br />
<br />
The median price paid for a home in the nine-county Bay Area in October 2014 was $601,000. That was down 0.5 percent from $604,000 in September, and up 11.3 percent from $539,750 in October 2013. <br />
<br />
The median sale price lurched above $600,000 in April this year, when it was $610,000, and then reached a 2014 high of $618,000 in June. Since June the median price has declined on a month-over-month basis and the October median was the lowest since March, when it was $579,000. The 11.3 percent year-over-year gain in the October median price was the second-lowest, behind this July's 9.8 percent increase, since June 2012, when the median rose 10.4 percent compared with June 2011. <br />
<br />
The Bay Area median sale price peaked at $665,000 in June and July 2007, then dropped to a low of $290,000 in March 2009. The $601,000 October 2014 median price was 9.6 percent below the peak, which is the closest any major region of the state has come to its peak median sale price. <br />
<br />
“After hitting what many view as a stratospheric level, Bay Area home prices have shown signs of leveling off,” said Andrew LePage, data analyst for CoreLogic DataQuick. “To some extent it’s the result of sticker shock and a modest pickup in inventory. A bigger jump in inventory would make price spikes less likely. Still, if we see more job and wage growth heading into 2015 it's easy to imagine demand and price pressures building again. People torn from homeownership by a foreclosure or short sale over the past seven years will be looking to buy again. And there’s pent-up demand from those who've delayed a purchase as they repaired their finances, struggled to qualify for a loan, or wrestled with doubts about job security or the direction of the housing market.” <br />
<br />
A variety of market indicators continue to trend slowly, and sometimes inconsistently, toward long-term norms. <br />
<br />
Adjustable-rate mortgages (ARMs), an important indicator or mortgage availability, accounted for 24.0 percent of the region’s home purchase loans in October. That was down slightly from a revised 24.2 percent in September and up from 20.5 percent in October 2013. The ARM share hit a low of 3.0 percent of purchase loans in January 2009. Since 2000, ARMs have accounted for a monthly average of 39.4 percent of Bay Area purchase loans. <br />
<br />
Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 55.3 percent of October purchase lending, up from a revised 54.7 percent in September and up from 47.8 percent in October 2013. In recent months the jumbo loan level has ranged from about 55 percent to 57 percent of purchase loans – the highest level since the credit crunch hit in August 2007. Prior to that crunch, Bay Area jumbo loans accounted for more than 60 percent of home purchase loans. The jumbo loan share dropped to as low as 17.1 percent in January 2009. <br />
<br />
Foreclosure resales accounted for 2.7 percent of resales in October, down from a revised 2.8 percent the month before, and down from 3.7 percent a year ago. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average since 1995 is 9.7 percent. Foreclosure resales are homes that had been foreclosed on in the prior 12 months. <br />
<br />
Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 3.5 percent of Bay Area resales in October. That was down from an estimated 3.8 percent in September and down from 7.3 percent in October 2013. <br />
<br />
Absentee buyers – mostly investors – purchased 19.4 percent of all Bay Area homes that sold in October. That was down from a revised 19.6 percent in September, and down from 20.3 percent in October 2013. In recent months the absentee buyer share has hovered near its lowest level since late 2010. <br />
<br />
Buyers paying cash accounted for 20.5 percent of sales in October, down from a revised 20.7 percent in September and down from 24.2 percent in October 2013. The cash level in October was the second-lowest, behind 20.3 percent this July, since November 2008, when cash buyers purchased 20.2 percent of all homes sold. <br />
<br />
The typical monthly mortgage payment in the Bay Area was $2,307 in October. Adjusted for inflation, the October payment was 20.4 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 41.2 percent below the current cycle's peak in July 2007. It was 78.8 percent above the February 2012 bottom of the current cycle. <br />
<br />
Indicators of market distress continue to decline. Foreclosure activity remains well below year-ago and far below peak levels. Financing with multiple mortgages is very low, and down payment sizes are stable. Because of late data availability, sales were estimated in Alameda, San Francisco and San Mateo counties. <br />
<br />
For view the county-by-county home sales chart, please visit <a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay141113.aspx">DQNews.com</a>.<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-81014206773672239542014-11-12T10:49:00.002-08:002014-11-12T10:49:50.729-08:00October Southland Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/Southern-CA/RRSCA141112.aspx">Southern California Home Sales Dip To Three-Year Low; Smaller Year-Over-Year Gain for Median Sale Price</a></h1><br />
November 12, 2014<br />
<br />
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its October Southern California homes sales report. Southland homes sold at the slowest pace for the month of October in three years as sales to investors and cash buyers continued to run well below October 2013 levels. Additionally, the median price paid for a home fell month-over-month again and the single-digit gain from a year earlier was the smallest in 28 months. <br />
<br />
A total of 19,271 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in October 2014. That was down 0.4 percent from 19,348 sales in September, and down 4.4 percent from 20,150 sales in October 2013, according to CoreLogic DataQuick data. <br />
<br />
Last month’s sales decline from September was not unusual. On average, Southern California sales have fallen 0.3 percent between September and October since 1988, when CoreLogic DataQuick data begin. <br />
<br />
October home sales have ranged from a low of 12,913 in 2007 to a high of 37,642 in 2003. October 2014 sales were 17.7 percent below the October average of 23,413 sales. <br />
<br />
"It was another sub-par month for Southern California home sales. We've yet to see traditional buyers fill the void left by the drop-off in investor and cash buyers, which began in spring last year,” said Andrew LePage, data analyst for CoreLogic DataQuick. “Of course, there are multiple reasons for this year's lackluster sales. New-home transactions are still running at about half their normal level. The resale market is hampered by constrained inventory in many areas, in part because some people who want to put their homes up for sale still haven't regained enough equity to purchase their next home. Then there are the would-be buyers who continue to struggle with affordability and mortgage availability, if not uncertainty over their employment or the direction of the housing market." <br />
<br />
The median price paid for all new and resale houses and condos sold in the six-county region in October 2014 was $410,000, down 0.7 percent from $413,000 in September and up 6.8 percent from $383,750 in October 2013. The median price also fell month-over-month between September and August this year. The August median of $420,000 was the highest for any month since December 2007, when it was $425,000. <br />
<br />
The 6.8 percent year-over-year gain for the October median sale price marked the fifth consecutive month with a single-digit annual increase following 22 straight months of double-digit gains as high as 28.3 percent. The last time the year-over-year increase in the median sale price was lower than last month’s gain was in June 2012, when it was 5.3 percent. <br />
<br />
The $410,000 October median stood at 18.8 percent below the peak $505,000 median reached in spring/summer 2007. Among the region’s six counties, the October 2014 median in Orange County ($595,000) was the closest – within about 8 percent – to its peak of $645,000 in June 2007. <br />
<br />
Home prices in Southern California have been rising at different rates depending on price segment. In October, the lowest-cost third of the region's housing stock saw a 13.6 percent year-over-year increase in the median price paid per square foot for resale houses. The annual gain was 5.1 percent for the middle third of the market and 3.6 percent for the top, most-expensive third. <br />
<br />
The number of homes that sold for $500,000 or more rose 2.6 percent in October compared with a year earlier. Sales below $500,000 fell 10.4 percent year-over-year, and sales below $200,000 dropped 30.8 percent. <br />
<br />
In October 2014, 35.8 percent of all Southern California home sales were for $500,000 or more, down from 36.4 percent in September and up from 32.8 percent in October 2013. <br />
<br />
Also in the region, distressed property sales continued to wane last month. <br />
<br />
Foreclosure resales represented 4.8 percent of the Southern California resale market in October. That was up insignificantly from 4.7 percent the prior month and down from 6.3 percent a year earlier. In recent months the foreclosure resale rate has been the lowest since early 2007. In the current cycle, foreclosure resales hit a high of 56.7 percent in February 2009. Foreclosure resales are homes foreclosed on in the prior 12 months. <br />
<br />
Short sales made up an estimated 5.9 percent of resales last month. That was down from 6.1 percent the prior month and down from 10.8 percent a year earlier. Short sales are transactions where the sale price fell short of what was owed on the property. <br />
<br />
<b>Other Southern California housing market highlights from October 2014:</b><br />
<br />
•Absentee buyers – mostly investors and some second-home purchasers – bought 23.6 percent of the homes sold last month. That tied the September 2014 revised absentee level as the lowest since October 2010, when 22.1 percent of homes were sold to absentee buyers. The October figure was down from 27.1 percent a year earlier. The peak absentee share was 32.4 percent in January 2013, while the monthly average since 2000, when the CoreLogic DataQuick absentee data begin, is about 19 percent. <br />
<br />
•Buyers paying cash accounted for 23.5 percent of October home sales, down from a revised 24.2 percent the prior month and down from 28.6 percent a year earlier. Last month’s figure was the lowest since January 2009, when 22.0 percent of homes were bought with cash. The peak was 36.9 percent in February 2013, and since 1988 the monthly average has been 16.7 percent. <br />
<br />
•In October, Southern California home buyers committed a total of $4.12 billion of their own money in the form of down payments or cash purchases. That was down from a revised $4.50 billion in September. The out-of-pocket total peaked in May 2013 at $5.41 billion. <br />
<br />
•Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 31.3 percent of purchase lending in October, up from a revised 30.9 the month before and up from 26.3 percent a year earlier. The July/August 2014 level of 32.3 percent was the highest since the credit crunch struck in August 2007. Prior to August 2007 jumbo loans accounted for around 40 percent of the home loan market. The jumbo level dropped to as low as 9.3 percent in January 2009. <br />
<br />
•In October, 12.9 percent of home purchase loans were adjustable-rate mortgages (ARMs), down slightly from 13.3 percent the month before and up from 12.0 percent a year earlier. The ARM share dropped to as low as 1.9 percent of home purchase loans in May 2009. Since 2000, a monthly average of about 30 percent of purchase loans have been ARMs. <br />
<br />
•All lenders combined provided a total of $5.58 billion in mortgage money to Southern California home buyers in October, down from a revised $5.63 billion the month before and down from $5.63 billion a year earlier. <br />
<br />
•The typical monthly mortgage payment in Southern California was $1,574 in October 2014, down from $1,608 the month before and up from $1,499 a year earlier. Adjusted for inflation, the typical payment in October was 35.5 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was also 47.2 percent below the current cycle’s peak in July 2007. <br />
<br />
To view the county-by-county chart, please visit <a href="http://www.dqnews.com/Articles/2014/News/California/Southern-CA/RRSCA141112.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick. Data available at DQNews.com<br />
Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Copyright 2014 CoreLogic. All rights reserved. <br />
<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-66255966640148675132014-10-30T14:43:00.002-07:002014-10-30T14:43:54.429-07:00September Las Vegas Region Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/Las-Vegas/RRCLNV141030.aspx">Las Vegas Region September Home Sales</a></h1><br />
Las Vegas-area homes sold at the slowest pace for a September in seven years as the share of homes purchased by investors and other absentee buyers fell to a 69-month low. The median price paid for a home edged up from August to a six-year high, CoreLogic DataQuick reported. <br />
<br />
In September, 3,930 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County). That was down 1.9 percent from the month before and down 7.8 percent from a year earlier, according to CoreLogic DataQuick data. Last month's sales were the lowest for a September since 2007, when 3,054 homes sold. <br />
<br />
Las Vegas region home sales typically dip between August and September. On average sales have fallen 5.4 percent between those two months since 1994, when Irvine-based CoreLogic DataQuick's complete Las Vegas-area statistics begin. <br />
<br />
Last month's home sales were 15.8 percent below the average number sold during all months of September since 1994. However, resales of houses and condos combined were 5.3 percent above average for a September, while sales of newly built homes were nearly 58 percent below the September average. Condo resales were 19.2 percent higher than the September average, while resales of detached houses were 2.0 percent above average. <br />
<br />
From January through September this year a total of 34,877 homes sold in the Las Vegas region, down 14.5 percent from the same nine-month period last year. <br />
<br />
Las Vegas-area buyers paid a median $196,816 for all new and resale houses and condos purchased in September, up 0.9 percent from August and up 12.5 percent from $175,000 a year earlier. Last month’s median was the highest since it was $205,000 in September 2008. The median’s 12.5 percent year-over-year increase last month was up from a 9.9 percent annual gain in August but it was far below the September 2013 year-over-year increase of 27.7 percent. <br />
<br />
The median has risen year-over-year for 30 straight months, with those gains ranging from 1.7 percent to 36.5 percent. In the second half of this year the median’s annual gains have ranged from 9.6 percent to last month's 12.5 percent. <br />
<br />
The September median was 36.9 percent below the region’s peak $312,000 median in November 2006. <br />
<br />
The run-up in home prices varies somewhat depending on price segment. In September, the lowest-cost third of the region’s housing stock saw a 13.5 percent year-over-year gain in the median price paid per square foot for resale single-family detached houses. The annual increase was 12.7 percent for the market’s middle third and 8.6 percent for the top, most-expensive third. <br />
<br />
In September, the number of homes that sold for less than $100,000 dropped 22.7 percent compared with a year earlier. That’s the result of both home price appreciation (i.e. homes that would have sold for less than $100,000 a year ago would now sell for significantly more) as well as the thin supply of lower-cost homes for sale. Sub-$200,000 transactions fell 21.0 percent year-over-year. Meanwhile, the number of homes that sold for $200,000 or more in September rose 7.4 percent year-over-year. Sales of homes priced from $200,000 to $500,000 – a range that would include many move-up purchases – rose 7.7 percent from a year earlier, while the number selling for $500,000 or more rose 4.5 percent. <br />
<br />
Absentee buyers, which include investors and some vacation-home buyers, purchased 33.2 percent of the homes sold in September, down from 35.0 percent the month before and down from 42.8 percent a year earlier. Last month's absentee buyer share of total sales was the lowest since December 2008, when it was 31.3 percent. The monthly average for the absentee buyer share since January 2000 is 35.3 percent, while the peak was 51.2 percent in March 2012. <br />
<br />
The drop in investment activity corresponds with a decline in all-cash purchases, mainly because many investors pay with cash. In September, cash was used to purchase 35.8 percent of all homes sold, up a tad from 34.7 percent the month before and down from 52.7 percent a year earlier. Last month’s cash share was the second-lowest, behind this August, for any month since December 2008, when 32.6 percent of homes were bought with cash. Since 1994 a monthly average of 23.9 percent of all homes have been bought with cash. <br />
<br />
<br />
To view additional Las Vegas region September highlights, please visit <a href="http://www.dqnews.com/Articles/2014/News/Las-Vegas/RRCLNV141030.aspx">DQNews.com</a>.<br />
<br />
Media calls: Andrew LePage (916) 456-7157<br />
<br />
<br />
Copyright 2014 DataQuick. All rights reserved.<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-91975068073269433842014-10-17T08:39:00.001-07:002014-10-17T08:39:34.149-07:003Q2014 California Home Foreclosure Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/CA-Foreclosures/RRFor141017.aspx">Golden State Foreclosure Starts Continue to Decline</a></h1><br />
October 17, 2014<br />
<br />
La Jolla, CA.--Lending institutions initiated formal foreclosure proceedings last quarter on the lowest number of California homes in more than eight years, the result of a recovering real estate market and the dwindling pool of toxic home loans made in 2006 and 2007, Irvine-based CoreLogic DataQuick reported. <br />
<br />
A total of 16,833 Notices of Default (NoDs) were recorded at county recorders offices during the July-through-September period. That was down 3.9 percent from 17,524 for the prior quarter, and down 17.1 percent from 20,314 in third-quarter 2013, according to CoreLogic DataQuick data. <br />
<br />
Last quarter's NoD tally was the lowest since fourth-quarter 2005, when 15,337 NoDs were recorded. NoDs peaked in first-quarter 2009 at 135,431, while the low was 12,417 NoDs in third-quarter 2004. The NoD statistics go back to 1992. <br />
<br />
A Notice of Default is recorded at a county recorder's office and marks the first step of the formal foreclosure process. <br />
<br />
"This home repo pipeline isn't exactly drying up, but it sure is diminishing. Its negative effect on the overall market is only a fraction of what it was several years ago, and is really only still noticeable in some pockets of the hardest-hit markets of the Inland Empire and Central Valley," said John Karevoll, a CoreLogic DataQuick analyst. <br />
<br />
To some extent the level of NoD filings in recent quarters probably reflects the rate at which servicers are able to process paperwork. The 20,314 NoDs filed in third-quarter 2013 were followed by 18,120 the following quarter and then 19,215 in 2014Q1; 17,524 in 2014Q2; and 16,833 last quarter. <br />
<br />
Most of the loans going into default are still from the 2005-2007 period. Last quarter the median origination quarter for defaulted loans was third-quarter 2006. That has been the case for more than five years, indicating that weak underwriting standards peaked then. <br />
<br />
On primary mortgages, California homeowners were a median 12.5 months behind on their payments when the lender filed the Notice of Default. Borrowers owed a median $28,684 on a median $316,651 mortgage. <br />
<br />
On home equity loans and lines of credit in default, borrowers owed a median $6,706 on a median $67,500 credit line. The amount of the credit line that was actually in use cannot be determined from public records. <br />
<br />
The most active "beneficiaries" in the formal foreclosure process last quarter were Wells Fargo (2,244), Bank of America (1,372) and Nationstar (1,346). <br />
<br />
The trustees who pursued the highest number of defaults last quarter were Quality Loan Service Corp (mostly for Wells Fargo), Clear Recon Corp (mostly Bank of America), and NBS Default Services (mostly Wells Fargo and Nationstar). <br />
<br />
Although 16,833 default notices were filed last quarter, they involved 16,432 homes because some borrowers were in default on multiple loans (e.g. a primary mortgage and a line of credit). <br />
<br />
Among the state's larger counties, loans were least likely to go into default last quarter in Marin, Santa Clara and San Mateo counties. The probability was highest in Tulare, Madera and Fresno counties. <br />
<br />
Lenders' shift toward short sales as a foreclosure alternative has helped lower foreclosure activity in recent years. Short sales - transactions where the sale price fell short of what was owed on the property - made up an estimated 5.5 percent of the state's resale market last quarter. That was down from an estimated 6.1 percent the prior quarter and 11.3 percent a year earlier. <br />
<br />
To view a county-by-county NOD chart, please visit <a href="http://www.dqnews.com/Articles/2014/News/California/CA-Foreclosures/RRFor141017.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Copyright 2014 DataQuick. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-22520968136804209802014-10-14T15:05:00.000-07:002014-10-14T15:05:13.593-07:00September California Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/RRCA141014.aspx">California September Home Sales</a></h1><br />
October 14, 2014 <br />
<br />
An estimated 36,316 new and resale houses and condos sold statewide in September. That was down 2.4 percent from 37,228 in August, and up 0.8 percent from 36,027 sales in September 2013, according to CoreLogic DataQuick data. <br />
<br />
Last month’s slight year-over-year sales increase was the first in a year, and sales were the highest for the month of September in five years. September sales have varied from a low of 24,460 in 2007 to a high of 69,304 in 2003. Last month's sales were 15.5 percent below the average of 42,996 sales for all the months of September since 1988, when Irvine-based CoreLogic DataQuick's statistics begin. California sales haven’t been above average for any particular month in more than eight years. <br />
<br />
The median price paid for a home in California last month was $389,000, down 1.0 percent from $393,000 in August and up 9.6 percent from $355,000 in September 2013. Last month was the 31st consecutive month in which the state's median sale price rose year-over-year. In March/April/May 2007 the median peaked at $484,000. The post-peak trough was $221,000 in April 2009. <br />
<br />
Of the existing homes sold last month, 5.3 percent were properties that had been foreclosed on during the past year. That was down from a revised 5.4 percent in August and down from 7.1 percent a year earlier. Foreclosure resales peaked at 58.8 percent in February 2009. <br />
<br />
Short sales - transactions where the sale price fell short of what was owed on the property - made up an estimated 5.9 percent of the homes that resold last month. That was the same as in August and down from 10.8 percent a year earlier. <br />
<br />
The typical monthly mortgage payment that California buyers committed themselves to paying last month was $1,507, down from $1,523 the month before and up from $1,437 a year earlier. Adjusted for inflation, last month's payment was 36.0 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 48.1 percent below the current cycle's peak in June 2006. It was 60.5 percent above the January 2012 bottom of the current cycle. <br />
<br />
Indicators of market distress continue to decline. Foreclosure activity remains well below year-ago and peak levels reached in the last five years. Financing with multiple mortgages is low, while down payment sizes are stable, CoreLogic DataQuick reported. <br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright DataQuick. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-42766002846389274942014-10-14T15:04:00.000-07:002014-10-14T15:04:04.645-07:00September Bay Area Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay141014.aspx">Strongest September for Bay Area Home Sales in Five Years; Prices Flat</a></h1><br />
October 14, 2014<br />
<br />
Irvine, CA.----The number of homes sold in the Bay Area last month edged up to its highest level for a September since 2009, the result of some spillover summer activity and sustained demand in a strong regional economy. Prices appear to have flattened out at a level reached this spring, Irvine-based CoreLogic DataQuick reported. <br />
<br />
A total of 7,443 new and resale houses and condos sold in the nine-county Bay Area last month. That was down 1.8 percent from 7,578 in August and up 4.2 percent from 7,141 in September last year, according to CoreLogic DataQuick. <br />
<br />
A decline in sales from August to September is normal for the season. Last month’s sales count was the highest for any September since 7,879 homes were sold in 2009. Sales for the month of September have varied from 5,014 in 2007 to 13,343 in 2003. The average since 1988, when CoreLogic DataQuick’s statistics begin, is 8,479. <br />
<br />
The median price paid for a home in the nine-county Bay Area was $604,000 in September. That was down 0.5 percent from $607,000 in August, and up 14.0 percent from $530,000 in September last year. The median sale price lurched above $600,000 this April, when it was $610,000, and then reached a 2014 high of $618,000 in June. Since then the median has declined slightly on a month-to-month basis. <br />
<br />
The Bay Area’s median sale price peaked at $665,000 in June and July 2007, then dropped to a low of $290,000 in March 2009. <br />
<br />
“Some analysts are re-calculating what they consider to be normal sales levels, taking out the ‘loans-gone-wild’ years of over-available credit. And if you do that, current sales are right in the normal range. We still have issues today, though. The mortgage market is still dysfunctional. There are categories of buying and selling that are still inactive, and nobody really has any idea just how much pent-up demand there is out there,” said John Karevoll, CoreLogic DataQuick analyst. <br />
<br />
A variety of market indicators are trending slowly toward long-term norms. <br />
<br />
Adjustable-rate mortgages (ARMs), an important indicator of mortgage availability, accounted for 24.4 percent of the Bay Area’s home purchase loans in September, up from a revised 23.6 percent in August, and up from 20.3 percent in September last year. ARMs hit a low of 3.0 percent of loans in January 2009. Since 2000, ARMs have accounted for 46.5 percent of all Bay Area purchase loans. <br />
<br />
Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 55.7 percent of last month’s purchase lending, down from a revised 56.1 percent in August, and up from 46.7 percent a year ago. Jumbo usage dropped to as low as 17.1 percent in January 2009. <br />
<br />
Last month foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 2.8 percent of resales, unchanged from a revised 2.8 percent the month before, and down from 3.6 percent a year ago. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average over the past 17 years is 9.7 percent, CoreLogic DataQuick reported. <br />
<br />
Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 3.6 percent of Bay Area resales last month. That was down from an estimated 3.8 percent in August and down from 7.5 percent a year earlier. <br />
<br />
Last month absentee buyers – mostly investors – purchased 19.1 percent of all Bay Area homes. That was up from August’s revised 18.6 percent, and down from 20.9 percent in September last year. <br />
<br />
Buyers who appear to have paid all cash – meaning no sign of a corresponding purchase loan was found in the public record – accounted for 20.9 percent of sales in September, down from a revised 21.8 percent in August and down from 23.3 percent a year earlier. <br />
<br />
Bay Area home buyers used $2.13 billion of their own money in the form of a down payment or as an outright cash purchase last month. They borrowed $2.8 billion in mortgage money from lenders last month. <br />
<br />
The typical monthly mortgage payment that Bay Area buyers committed themselves to paying last month was $2,340. Adjusted for inflation, last month’s payment was 19.4 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 39.1 percent below the current cycle's peak in July 2007. It was 82.4 percent above the February 2012 bottom of the current cycle. <br />
<br />
Indicators of market distress continue to decline. Foreclosure activity remains well below year-ago and far below peak levels. Financing with multiple mortgages is very low, and down payment sizes are stable, CoreLogic DataQuick reported. Because of late data availability, sales were estimated in Alameda, San Francisco and San Mateo counties. <br />
<br />
To view the county-by-county chart, please visit <a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay141014.aspx">DQNews.com</a>.<br />
<br />
Source: CoreLogic DataQuick, www.DQNews.com <br />
<br />
Media calls: Andrew LePage (916) 456-7157 <br />
Copyright 2014 DataQuick. All rights reserved. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-19739962748349958652014-10-13T10:47:00.002-07:002014-10-13T10:47:55.581-07:00September Southland Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/Southern-CA/RRSCA141013.aspx">Southland Home Sales Edge Higher; Price Growth Slows</a></h1><br />
October 13, 2014<br />
<br />
Irvine, CA---Southern California home sales hit a five-year high for a September, rising slightly above a year earlier for the first time in 12 months amid gains for mid- to high-end deals. The median sale price fell below an 80-month high reached in August and for the first time in more than two years none of the Southland counties posted a double-digit year-over-year price gain, CoreLogic DataQuick reported. <br />
<br />
A total of 19,348 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 2.9 percent from 18,796 sales in August, and up 1.2 percent from 19,112 sales in September 2013, according to CoreLogic DataQuick data. <br />
<br />
On average, sales have fallen 9.4 percent between August and September since 1988, when CoreLogic DataQuick statistics begin. Last month marked the first time sales have risen on a year-over-year basis since September last year, when sales rose 7.0 percent from September 2012. <br />
<br />
September home sales have ranged from a low of 12,455 in 2007 to a high of 37,771 in 2003. Last month’s sales were 18.3 percent below the September average of 23,695 sales. <br />
<br />
The median price paid for all new and resale houses and condos sold in the six-county region last month was $413,000, down 1.7 percent from $420,000 in August and up 8.1 percent from $382,000 in September 2013. The August 2014 median was the highest for any month since December 2007, when it was $425,000. <br />
<br />
The median’s 8.1 percent year-over-year gain in September marked the fourth consecutive month with a single-digit annual increase following 22 straight months of double-digit gains of as much as 28.3 percent. <br />
<br />
“Price appreciation has dipped into single-digit territory as more would-be buyers get priced out, investors back off and incomes rise modestly at best. Yet there are still upward forces on home prices: Jobs are being created and families started at a time when the supply of existing homes for sale, as well as the number of new homes being built, remains relatively low. The good news for those looking to buy a home now is that mortgage rates remain very low in an historical context, and we're past the peak home-buying season. Today's home shoppers are more likely to find a less-crowded market with fewer intense multiple-offer situations and more serious, realistic sellers,” said Andrew LePage, an analyst with Irvine-based CoreLogic DataQuick. <br />
<br />
Last month was the first since June 2012 in which none of the six Southland counties posted a double-digit, year-over-year gain in its median sale price (all had single-digit increases). Orange County’s $585,000 September median was the closest – within 9.3 percent – to its all-time peak of $645,000 in June 2007. <br />
<br />
For the Southland overall the September median stood 18.2 percent below the peak $505,000 median in spring/summer 2007. <br />
<br />
Home prices have been rising at different rates depending on price segment. In September, the lowest-cost third of the region's housing stock saw a 10.9 percent year-over-year increase in the median price paid per square foot for resale houses. The annual gain was 6.6 percent for the middle third of the market and 4.5 percent for the top, most-expensive third. <br />
<br />
The number of homes that sold for $500,000 or more last month rose 9.0 percent compared with a year earlier. But sales below $500,000 fell 6.7 percent year-over-year. Sales below $200,000 dropped 24.7 percent. Sales in the lower price ranges are hampered by, among other things, the drop in affordability over the last year, a fussy mortgage market and a relatively low inventory of homes for sale. <br />
<br />
In September, 36.7 percent of all Southland home sales were for $500,000 or more, down from 38.5 percent in August – an 81-month high – and up from 33.2 percent in September 2013. <br />
<br />
Distressed property sales continued to play a lesser role in the market. <br />
<br />
Foreclosure resales – homes foreclosed on in the prior 12 months – represented 4.7 percent of the Southland resale market last month. That was down from a revised 5.0 percent the prior month and down from 6.4 percent a year earlier. In recent months the foreclosure resale rate has been the lowest since early 2007. In the current cycle, foreclosure resales hit a high of 56.7 percent in February 2009. <br />
<br />
Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 6.0 percent of Southland resales last month. That was up insignificantly from 5.9 percent the prior month and down from 10.9 percent a year earlier. <br />
<br />
Absentee buyers – mostly investors and some second-home purchasers – bought 23.3 percent of the Southland homes sold last month. That was the lowest absentee share since October 2010, when 22.1 percent of homes sold to absentee buyers. Last month’s figure was down from 23.8 percent the prior month and down from 27.0 percent a year earlier. The peak was 32.4 percent in January 2013, while the monthly average since 2000, when the CoreLogic DataQuick absentee data begin, is about 19 percent. <br />
<br />
Buyers paying cash accounted for 24.3 percent of September home sales, down from a revised 24.5 percent in August and down from 28.7 percent in September last year. Last month’s figure was the lowest since June 2010, when 24.2 percent of Southland homes were bought with cash. The peak was 36.9 percent in February 2013, and since 1988 the monthly average is 16.7 percent. <br />
<br />
In September, Southern California home buyers committed a total of $4.03 billion of their own money in the form of down payments or cash purchases. That was down from a revised $4.51 billion in August. The out-of-pocket total peaked in May 2013 at $5.41 billion. <br />
<br />
Although credit conditions remain fairly tight, the use of larger “jumbo” home loans and adjustable-rate mortgages has generally trended higher this year compared with last, edging toward more normal levels. <br />
<br />
Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 28.1 percent of last month’s Southland purchase lending, the same as the month before and up from 26.5 percent a year earlier. The July 2014 level of 32.3 percent was the highest since the credit crunch struck in August 2007. Prior to August 2007 jumbos accounted for around 40 percent of the home loan market. The jumbo level dropped to as low as 9.3 percent in January 2009. <br />
<br />
In September, 13.4 percent of Southland home purchase loans were adjustable-rate mortgages (ARMs), the same as the August ARM rate and up from a year earlier, when 12.0 percent of purchase loans were ARMs. The ARM share dropped to as low as 1.9 percent of home purchase loans in May 2009. Since 2000, a monthly average of about 30.2 percent of Southland purchase loans have been ARMs. <br />
<br />
All lenders combined provided a total of $5.85 billion in mortgage money to Southern California home buyers in September, down from a revised $6.2 billion in August and up from $5.43 billion in September last year. <br />
<br />
The typical monthly mortgage payment Southland buyers committed themselves to paying last month was $1,608, down from $1,624 the month before and up from $1,547 a year earlier. Adjusted for inflation, last month’s typical payment was 34.1 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was 46.0 percent below the current cycle’s peak in July 2007. <br />
<br />
To view the county-by-county home sale chart, please visit <a href="http://www.dqnews.com/Articles/2014/News/California/Southern-CA/RRSCA141013.aspx">DQNews.com</a>.<br />
<br />
Source: DQNews.com Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Copyright 2014 DataQuick. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-44313217098888132142014-10-02T17:57:00.001-07:002014-10-02T17:57:41.019-07:00August Portland Region Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/Portland/RRPOOR141002.aspx">Portland Region August Home Sales</a></h1><br />
Portland-area home sales dipped month-to-month in August but rose slightly from a year earlier and reached a seven-year high thanks to a nine-year high in condo resales. The median price paid for all homes sold declined a bit from a nearly seven-year high in July, while the median's year-over-year increase was the smallest in almost two years, a real estate information service reported. <br />
<br />
A total of 3,762 new and resale houses and condos closed escrow during August in the five-county Portland-Vancouver-Beaverton metro area. Sales fell 2.1 percent from the prior month and rose 0.1 percent from a year earlier, according to CoreLogic DataQuick data. <br />
<br />
On average, sales between July and August have increased 3.2 percent since 1994, when CoreLogic DataQuick's complete Portland-area statistics begin. <br />
<br />
The August 2014 sales tally was the highest for that month since 4,191 homes sold in August 2007, and it was 6.1 percent short of the average sales total for all months of August since 1994. Sales of existing (not new) single-family detached houses were 5.6 percent below the historical August average, while new-home sales were 35.7 percent below average. August condo resales, which rose 9.7 percent from a year earlier, were 76.3 percent above the August average. The 372 condo resales in August were the highest for that month since 405 condos resold in August 2005. <br />
<br />
The median price paid for all new and resale houses and condos that closed escrow in the Portland region in August was $279,900, down 1.3 percent from $283,500 in July and up 7.2 percent from $261,000 a year earlier. The July median was the highest for any month since the median was $289,000 in October 2007. The 7.2 percent year-over-year gain in the August median marked the lowest annual increase since the $230,000 November 2012 median rose 5.3 percent. <br />
<br />
The median has risen on a year-over-year basis for 30 consecutive months, including a 12-month string of double-digit increases as high as 18.1 percent between December 2012 and November 2013. Over the past six months the median's year-over-year gains have been single-digit. <br />
<br />
This August's median sale price was 3.1 percent below the peak $289,000 median in October 2007, and it was 43.5 percent higher than the post-peak trough of $195,000 in January 2012. During the most recent housing bust the Portland area's median fell 32.5 percent from peak to trough. <br />
<br />
Sales of mid- to high-end homes continued to rise year-over-year in August, while lower-cost deals declined. August sales below $200,000 dropped 29.6 percent from a year earlier, while sales below $300,000 fell 8.3 percent. The number of August home sales above $300,000 rose 12.5 percent year-over-year, while sales over $500,000 rose 24.6 percent. <br />
<br />
It appears investors were as active as they were a year ago. Absentee buyers - mostly investors and some second-home buyers - purchased 26.8 percent of all homes sold in August, up from 26.6 percent the prior month and up from 25.8 percent a year earlier. The absentee buyer rate peaked at 31.7 percent in April 2012, and the monthly average for absentee purchases since January 2000 is 20.0 percent. <br />
<br />
The Portland metro area statistics in this report and in the tables below reflect sales in Clackamas, Multnomah, Washington and Yamhill counties in Oregon and Clark County in Washington. <br />
<br />
To view additional Portland region August highlights, please visit <a href="http://www.dqnews.com/Articles/2014/News/Portland/RRPOOR141002.aspx">DQNews.com</a>.<br />
<br />
Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright 2014 DataQuick. All rights reserved. <br />
<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-43245319797461792422014-10-01T17:10:00.001-07:002014-10-01T17:10:55.363-07:00August Seattle Region Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/Seattle/RRKIWA141001.aspx">Seattle Region August Home Sales</a></h1><br />
Seattle-area homes sold at a near-average pace in August but sales fell short of July and a year ago amid a four-year low in the share of homes bought by investors and other absentee buyers. The median sale price fell from a six-year high reached this June and July but rose 3 percent year-over-year - the smallest annual gain in more than two years, a real estate information service reported. <br />
<br />
A total of 5,788 new and resale houses and condos closed escrow during August in the Seattle-Tacoma-Bellevue metro area encompassing King, Snohomish and Pierce counties. Seattle-area sales fell 5.5 percent from the prior month and fell 3.8 percent from a year earlier, according to CoreLogic DataQuick data. <br />
<br />
Seattle-area sales typically rise a bit between July and August, increasing an average of 2.4 percent between those two months since 1994, when CoreLogic DataQuick's complete Seattle-area statistics begin. August marked the second consecutive month and the fifth so far this year to log a year-over-year decline in total sales. <br />
<br />
So far this year overall Seattle-area sales are running a bit lower than last year. A total of 39,709 home sold between January and August, down 1.3 percent from the same eight-month period in 2013. <br />
<br />
Total August home sales were 0.1 percent below average for all months of August since 1994. Sales of existing (not new) resale condos were 37.7 percent above the August average, while resales of single-family detached houses were 1.3 percent above average and new-home sales were 34.9 percent below average. <br />
<br />
Buyers paid a median $335,000 for all new and resale houses and condos sold in the three-county Seattle region in August. That was down 2.9 percent from July's $345,000 and up 3.1 percent from $325,000 in August 2013. The $345,000 median paid in both June and July this year marked the highest level for any month since the median was $345,200 in June 2008. <br />
<br />
The August median's 3.1 percent year-over-year gain was the smallest for any month since April 2012, when the region's $274,659 median sale price rose 1.7 percent from April 2011. <br />
<br />
August marked the 29th consecutive month in which the Seattle area's median sale price rose on a year-over-year basis. However, the August median was 8.3 percent lower than the region's peak $365,200 median in June 2007. The $345,000 median paid for resale single-family detached houses in August was 12.5 percent below the June 2007 peak of $394,500 for that home-type category. The $248,150 median paid for resale condos in August was 11.4 percent lower than that category's June 2008 peak of $280,000. <br />
<br />
In an ongoing trend, the number of homes selling in the higher price ranges rose in August compared with a year earlier, while sales of lower-cost homes fell. The number of sales for less than $200,000 dropped 9.1 percent year-over-year, while August sales below $500,000 fell 5.5 percent. Sales above $500,000 rose 4.7 percent year-over-year, while home sales over $700,000 increased 15.4 percent. <br />
<br />
In the Seattle region's multi-million-dollar luxury housing market, sales have trended higher this year. During the first eight months of this year a total of 255 homes sold for $2 million or more, up 48.3 percent from the same period in 2013. Multi-million-dollar sales are identified based on a price or loan amount found in the public record. <br />
<br />
Meanwhile, the share of all homes sold to absentee buyers - the combination of investors and vacation-home buyers - fell in August to 14.6 percent, the lowest since absentee buyers accounted for 13.1 percent of all sales in June 2010. <br />
<br />
To view other Seattle area August highlights, visit <a href="http://www.dqnews.com/Articles/2014/News/Seattle/RRKIWA141001.aspx">DQNews.com</a>.<br />
<br />
Media calls: Andrew LePage (916) 456-7157 <br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright 2014 DataQuick. All rights reserved. <br />
<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-11074770474355166772014-09-30T16:43:00.003-07:002014-09-30T16:43:47.329-07:00August Miami Region Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/Miami/RRDAFL140930.aspx">Miami Region August Home Sales</a></h1><br />
September 30, 2014<br />
<br />
Miami-area home sales fell on a year-over-year basis for the third consecutive month in August, when cash and investor purchases, as well as overall sub-$200,000 sales, continued to run well below year-ago levels. The August median sale price dipped below a 68-month high reached in July but rose year-over-year, though that single-digit annual gain was the lowest in two years, a real estate information service reported. <br />
<br />
In August, 10,236 new and resale houses and condos closed escrow in the metro area encompassing Miami-Dade, Palm Beach and Broward counties. August sales dipped 11.0 percent from the prior month and fell 8.5 percent from a year earlier, according to CoreLogic DataQuick data. <br />
<br />
Between January and August this year a total of 83,085 homes sold in the Miami region, down 3.3 percent from the same eight-month period last year. <br />
<br />
It's normal for Miami-area sales to dip slightly between July and August. On average, Miami sales have fallen 2.9 percent between those two months since 1997, when CoreLogic DataQuick's complete Miami-area statistics begin. <br />
<br />
This August's total sales were 12.6 percent below the average number of sales for the month of August since 1997. August's condo resales were 15.9 percent above average for the month, while single-family detached house resales were 11.6 percent below the long-term average and new-home sales were 74.5 percent below the August average. <br />
<br />
Condo resales fell 11.8 percent in August compared with a year earlier but continued to account for an above-average share of overall home sales. In August, condo resales represented 44.9 percent of total sales, compared with an historical monthly average of about 35.9 percent. The August resale condo share was up from 44.2 percent in July and down from 46.6 percent a year earlier. <br />
<br />
In August, the median price paid for all new and resale houses and condos sold in the Miami region was $198,350, down 3.2 percent from $205,000 the month before and up 7.2 percent from $184,950 a year earlier. The July 2014 median of $205,000 was the highest for any month since the median was $210,000 in November 2008. <br />
<br />
The August median's 7.2 percent year-over-year increase marked the first single-digit annual gain following 24 consecutive months of double-digit year-over-year increases. The region's median has risen year-over-year for 32 consecutive months, with those gains ranging from 5.8 percent to 27.1 percent. <br />
<br />
This August's median stood 31.6 percent below the Miami area's peak $290,000 median in June 2007. <br />
<br />
August sales activity varied by price segment: The number of homes that sold below $100,000 dropped 23.3 percent year-over-year, while sales below $200,000 fell 13.6 percent. The number of homes sold in the typical move-up range between $200,000 and $600,000 declined 3.7 percent year-over-year in August, while the number of homes that sold for $800,000 and above increased 4 percent from August 2013. <br />
<br />
In the Miami region's multi-million-dollar luxury home market, 126 homes sold for $2 million or more in August, down from 158 in July and up from 91 in August last year. During the first eight months of this year, 1,166 homes sold for at least $2 million, up 17.3 percent from the same period in 2013 and the highest number on record for the January-through-August period. The figures are based on public property records, where either a price or loan amount was available. <br />
<br />
To view other Miami region August highlights, please visit <a href="http://www.dqnews.com/Articles/2014/News/Miami/RRDAFL140930.aspx">DQNews.com</a>. <br />
<br />
Media calls: Andrew LePage (916) 456-7157<br />
<br />
Source: CoreLogic DataQuick; DQNews.com<br />
<br />
Copyright 2014 DataQuick. All rights reserved. <br />
<br />
<br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-45407283867619568672014-09-29T17:00:00.002-07:002014-09-29T17:00:39.647-07:00August Las Vegas Region Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/Las-Vegas/RRCLNV140929.aspx">Las Vegas Region August Home Sales</a></h1><br />
The Las Vegas region logged its slowest August home sales in 16 years last month amid affordability and inventory constraints as well as the lowest level of all-cash purchases since late 2008. Although home price appreciation continued to run well below last year’s pace, the median sale price rose to a nearly six-year high, a real estate information service reported. <br />
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In August, 4,007 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County). That was down 5.9 percent from the month before and down 15.7 percent from a year earlier, according to CoreLogic DataQuick data. <br />
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Sales in the Las Vegas region typically increase slightly between July and August. On average sales have risen 2.6 percent between those two months since 1994, when Irvine-based CoreLogic DataQuick's complete Las Vegas-area statistics begin. Sales have fallen on a year-over-year basis for the past 11 months. <br />
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Last month's home sales were the lowest for the month of August since 1998, when 3,657 homes sold, and they were 20.0 percent below the average number sold during all months of August since 1994. However, resales of houses and condos combined were 0.8 percent above average for August, while sales of newly built homes were nearly 64 percent below the August average. Condo resales were 6.8 percent higher than the August average, while resales of detached houses were 0.5 percent below average. <br />
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Las Vegas region buyers paid a median $195,000 for all new and resale houses and condos purchased in August, up 2.6 percent from the July median and up 9.9 percent from $177,500 a year earlier. The August median was the highest since it was $196,000 in October 2008. However, the median’s 9.9 percent annual increase last month was less than one-third of the August 2013 year-over-year gain of 33.5 percent. <br />
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Over the last 29 consecutive months the median’s year-over-year increases have ranged from 1.7 percent to 36.5 percent. August marked the second consecutive month in which the median had a single-digit annual increase following two years of double-digit year-over-year gains each month. <br />
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The August median was 37.5 percent below the region’s peak $312,000 median in November 2006. <br />
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The run-up in home prices varies somewhat depending on price segment. In August, the lowest-cost third of the region’s housing stock saw a 17.6 percent year-over-year gain in the median price paid per square foot for resale single-family detached houses. The annual increase was 11.9 percent for the market’s middle third and 7.9 percent for the top, most-expensive third. <br />
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In August, the number of homes that sold for less than $100,000 dropped 31.5 percent compared with a year earlier. That’s the result of both home price appreciation (i.e. homes that would have sold for less than $100,000 a year ago would now sell for significantly more) as well as the thin supply of lower-cost homes for sale. Sub-$200,000 transactions fell 24.4 percent year-over-year. Meanwhile, the number of homes that sold for $200,000 or more in August declined 1.8 percent year-over-year. August sales of homes priced from $200,000 to $500,000 – a range that would include many move-up purchases – dipped 3.3 percent from a year earlier, while the number selling for $500,000 or more rose 14.6 percent. <br />
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Absentee buyers, which include investors and some vacation-home buyers, purchased 34.9 percent of the homes sold in August, up a tad from 34.3 percent the month before and down from 42.3 percent a year earlier. This July’s absentee buyer share of total sales was the lowest since January 2009, when it was 33.8 percent. The monthly average for the absentee buyer share since January 2000 is 35.3 percent, while the peak was 51.2 percent in March 2012. <br />
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The drop in investment activity corresponds with a decline in all-cash purchases, mainly because many investors pay with cash. In August, cash was used to purchase 34.7 percent of all homes sold, down from 38.7 percent the month before and down from 53.4 percent a year earlier. Last month’s cash share was the lowest for any month since December 2008, when 32.6 percent of homes were bought with cash. The monthly average for cash sales since 1994 is 23.9 percent. <br />
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To view additional Las Vegas region August highlights, please visit <a href="http://www.dqnews.com/Articles/2014/News/Las-Vegas/RRCLNV140929.aspx">DQNews.com</a>. <br />
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Media calls: Andrew LePage (916) 456-7157<br />
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Copyright 2014 DataQuick. All rights reserved.<br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-32621719683277120322014-09-11T13:51:00.000-07:002014-09-11T13:51:06.646-07:00August California Home Sales Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/RRCA140911.aspx">California August Home Sales</a></h1><br />
September 11, 2014 <br />
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An estimated 37,228 new and resale houses and condos sold statewide in August. That was down 6.0 percent from 39,608 in July, and down 12.5 percent from 42,546 sales in August 2013, according to CoreLogic DataQuick data. <br />
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August sales have varied from a low of 29,764 in 1992 to a high of 73,285 in 2005. Last month's sales were 21.6 percent below the average of 47,456 sales for all the months of August since 1988, when Irvine-based CoreLogic DataQuick's statistics begin. California sales haven’t been above average for any month in more than eight years. <br />
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The median price paid for a home in California last month was $393,000, up 0.3 percent from $392,000 in July and up 8.9 percent from $361,000 in August 2013. Last month was the 30th consecutive month in which the state's median sale price rose year-over-year. In March/April/May 2007 the median peaked at $484,000. The post-peak trough was $221,000 in April 2009. <br />
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Of the existing homes sold last month, 5.4 percent were properties that had been foreclosed on during the past year. That was down from 5.6 percent in July and down from 7.8 percent a year earlier. Foreclosure resales peaked at 58.8 percent in February 2009. <br />
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Short sales - transactions where the sale price fell short of what was owed on the property - made up an estimated 6.0 percent of the homes that resold last month. That was unchanged from the month before and down from 11.4 percent a year earlier. <br />
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The typical monthly mortgage payment that California buyers committed themselves to paying last month was $1,523, up from $1,521 the month before and up from $1,456 a year earlier. Adjusted for inflation, last month's payment was 35.5 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 47.7 percent below the current cycle's peak in June 2006. It was 61.8 percent above the January 2012 bottom of the current cycle. <br />
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Source: CoreLogic DataQuick; DQNews.com<br />
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Copyright DataQuick. All rights reserved. <br />
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-223238106338173876.post-91603282312141945932014-09-11T09:52:00.000-07:002014-09-11T09:52:10.521-07:00August Bay Area Home Sale Press Release<h1><a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay140911.aspx">Bay Area Home Sales Slow in August; Prices Increases Ease Back</a></h1><br />
September 11, 2014<br />
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Irvine, CA.----The number of Bay Area homes that sold last month declined again, as potential buyers continued to struggle with constrained supply, tricky mortgage availability and affordability issues. The median price paid for a Bay Area home dropped somewhat, as it usually does from July to August, a real estate information service reported. <br />
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A total of 7,578 new and resale houses and condos sold in the nine-county Bay Area last month. That was down 10.6 percent from 8,474 in July and down 12.0 percent from 8,616 in August last year, according to CoreLogic DataQuick data. <br />
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August sales have varied from 6,688 in August 1992 to 13,940 in August 2004. The average since 1988, when CoreLogic DataQuick’s statistics begin, is 9,526. <br />
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“Among the professional number crunchers, there’s been talk lately of a ‘new normal’ and maybe even the need to re-benchmark key statistical indicators like sales and price levels. The fact is that the housing market is still slowly moving back toward long-term norms that were thrown out of whack back during the Great Recession. The most congestion in the various pipelines that comprise the housing market today is caused by abnormalities in the mortgage market,” said John Karevoll, an analyst with Irvine-based CoreLogic DataQuick. <br />
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The median price paid for a home in the nine-county Bay Area was $607,000 in August. That was down 1.6 percent from $617,000 in July, and up 12.4 percent from $540,000 in August a year ago. A seasonal late-summer decline in median price is normal in the Bay Area. The Bay Area’s median sale price peaked at $665,000 in June and July 2007, then dropped to a low of $290,000 in March 2009. <br />
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While bouncing around somewhat from month to month, a variety of market indicators are trending incrementally toward long-term norms. <br />
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Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 58.2 percent of last month’s purchase lending, up from a revised 57.3 percent in July, and up from 47.9 percent a year ago. Jumbo usage dropped to as low as 17.1 percent in January 2009. <br />
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Adjustable-rate mortgages (ARMs), an important indicator of mortgage availability, accounted for 24.5 percent of the Bay Area’s home purchase loans in August, down from a revised 25.4 percent in July, and up from 19.4 percent in August last year. ARMs hit a low of 3.0 percent of loans in January 2009. Since 2000, ARMs have accounted for 46.6 percent of all Bay Area purchase loans. <br />
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Last month foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 2.9 percent of resales, up from 2.7 percent the month before, and down from 4.3 percent a year ago. Foreclosure resales in the Bay Area peaked at 52.0 percent in February 2009, while the monthly average over the past 17 years is 9.8 percent, CoreLogic DataQuick reported. <br />
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Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 3.8 percent of Bay Area resales last month. That was down from an estimated 4.0 percent in July and down from 7.6 percent a year earlier. <br />
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Last month absentee buyers – mostly investors – purchased 18.4 percent of all Bay Area homes. That was down from a revised 18.9 percent the prior month, and down from 20.3 percent a year earlier. <br />
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Buyers who appear to have paid all cash – meaning no sign of a corresponding purchase loan was found in the public record – accounted for 21.8 percent of sales in August, up slightly from a revised 20.0 percent the month before and down from 23.7 percent a year earlier. <br />
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Bay Area home buyers committed $2.53 billion of their own money in the form of a down payment or as an outright cash purchase last month, while they borrowed $3.64 billion in mortgage money from lenders. <br />
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The typical monthly mortgage payment that Bay Area buyers committed themselves to paying last month was $2,352. Adjusted for inflation, last month’s payment was 19.2 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 40.3 percent below the current cycle's peak in July 2007. It was 82.9 percent above the February 2012 bottom of the current cycle. <br />
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Because of late data availability, sales were estimated in Alameda, San Francisco and San Mateo counties.<br />
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To view the county-by-county chart, please visit <a href="http://www.dqnews.com/Articles/2014/News/California/Bay-Area/RRBay140911.aspx">DQNews.com</a>.<br />
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Source: DataQuick, www.DQNews.com <br />
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Media calls: Andrew LePage (916) 456-7157 <br />
Copyright 2014 DataQuick. All rights reserved. Unknownnoreply@blogger.com0