California Home Sales Decline in June, Prices Still Gaining
California Home Sales Decline in June, Prices Still Gaining
California Home Sales Decline in June, Prices Still Gaining
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July 25, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California unexpectedly fell in June but still remained higher than year ago levels, while home prices kept pushing upward according to real estate information provider DataQuick.

An estimated total of 41,027 new and existing homes and condos were sold in the Golden State in June. That was 1.8 percent lower than the 41,790 homes sold in May but still 5.3 percent higher than the 38,975 homes sold in June 2011.

Home sales in the state typically increase 6.7 percent between May and June. Despite being 17.5 percent below the historical average of 49,753 sales for the month, home sales have improved year-over-year for the last 12 months.

Distressed property sales accounted for 43.1 percent of all re-sales in June, down from 46.4 percent in May, with homes that had been foreclosed on in the previous twelve months accounting for 25.0 percent of the existing home sales. That was down from a revised 28.5 percent in May and down from 35.1 percent in June of 2011.

Foreclosure re-sales are less than half of what they were since the market peak in February 2009 when foreclosure re-sales accounted for 58.5 percent of the resale market.

Short sales accounted for an estimated 18.1 percent of all re-sales last month, up slightly from 17.9 percent in May. In June of last year, short sales accounted for 17.5 percent of all existing home sales.

The median sales price for a home in California increased 1.5 percent to $274,000 from $270,000 in May and was 8.4 percent higher than the median price of $253,000 posted in June of 2011. It was the fourth consecutive increase in year-over-year prices in the state following 18 months of declines.

The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in June 2009.

Tags: California, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

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July 25, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California unexpectedly fell in June but still remained higher than year ago levels, while home prices kept pushing upward according to real estate information provider DataQuick.

An estimated total of 41,027 new and existing homes and condos were sold in the Golden State in June. That was 1.8 percent lower than the 41,790 homes sold in May but still 5.3 percent higher than the 38,975 homes sold in June 2011.

Home sales in the state typically increase 6.7 percent between May and June. Despite being 17.5 percent below the historical average of 49,753 sales for the month, home sales have improved year-over-year for the last 12 months.

Distressed property sales accounted for 43.1 percent of all re-sales in June, down from 46.4 percent in May, with homes that had been foreclosed on in the previous twelve months accounting for 25.0 percent of the existing home sales. That was down from a revised 28.5 percent in May and down from 35.1 percent in June of 2011.

Foreclosure re-sales are less than half of what they were since the market peak in February 2009 when foreclosure re-sales accounted for 58.5 percent of the resale market.

Short sales accounted for an estimated 18.1 percent of all re-sales last month, up slightly from 17.9 percent in May. In June of last year, short sales accounted for 17.5 percent of all existing home sales.

The median sales price for a home in California increased 1.5 percent to $274,000 from $270,000 in May and was 8.4 percent higher than the median price of $253,000 posted in June of 2011. It was the fourth consecutive increase in year-over-year prices in the state following 18 months of declines.

The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in June 2009.

Tags: California, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

July 25, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California unexpectedly fell in June but still remained higher than year ago levels, while home prices kept pushing upward according to real estate information provider DataQuick.

An estimated total of 41,027 new and existing homes and condos were sold in the Golden State in June. That was 1.8 percent lower than the 41,790 homes sold in May but still 5.3 percent higher than the 38,975 homes sold in June 2011.

Home sales in the state typically increase 6.7 percent between May and June. Despite being 17.5 percent below the historical average of 49,753 sales for the month, home sales have improved year-over-year for the last 12 months.

Distressed property sales accounted for 43.1 percent of all re-sales in June, down from 46.4 percent in May, with homes that had been foreclosed on in the previous twelve months accounting for 25.0 percent of the existing home sales. That was down from a revised 28.5 percent in May and down from 35.1 percent in June of 2011.

Foreclosure re-sales are less than half of what they were since the market peak in February 2009 when foreclosure re-sales accounted for 58.5 percent of the resale market.

Short sales accounted for an estimated 18.1 percent of all re-sales last month, up slightly from 17.9 percent in May. In June of last year, short sales accounted for 17.5 percent of all existing home sales.

The median sales price for a home in California increased 1.5 percent to $274,000 from $270,000 in May and was 8.4 percent higher than the median price of $253,000 posted in June of 2011. It was the fourth consecutive increase in year-over-year prices in the state following 18 months of declines.

The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in June 2009.

Tags: California, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.