California Home Sales Remain Flat in May
California Home Sales Remain Flat in May
California Home Sales Remain Flat in May
Helpful
Tools
Mortgage
Calculator

Estimate your monthly payment for a home purchase or refinance
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about mortgage loans to find the one that's right for you
15 Year vs 30 Year
Loan Comparison

Compare payments between a 15 year and 30 year mortgage loan
Today's Mortgage
Rates

See today's current mortgage rates. Shop, compare and save.

June 17, 2011 (Shirley Allen)

Sales of new and re-sale homes and condos in California remained flat in May 2011 as an estimated 35,536 properties were sold, up 0.9 percent from April’s 35,202 sales, according to the real estate experts at DataQuick.

Year-over-year sales were down 13.3 percent from 40,965 sales in May 2010. Historically, California averages 46,840 sales in the month of May.

The median price for a home in May remained unchanged at $249,000 compared to April and is down 10.4% from a median price of $278,000 in May of 2010. The statewide current cycle peak price was $484,000 in early 2007.

Distressed properties continued to dominate the California market as 53 percent of all re-sales in May were distressed sales.

Properties that had been foreclosed on in the previous twelve months made up 35.5 percent of the existing home sales in May. That was virtually unchanged from the 35.4 percent observed in May of last year and was down from the 36.4 percent observed in the previous month of April 2011.

Short sales increased to 17.9 percent of re-sales last month compared to 16.9 percent in April and down from 18.9 percent in May of 2010.

Falling home prices and interest rates helped bring the typical mortgage payment down to $1,025 in May, slightly lower than April’s typical payment of $1,050, but significantly lower than the $1,178 observed in May 2010. May’s typical mortgage payment is 61.5 percent lower than it was during the current cycle’s peak in June 2006.

“Indicators of market distress continue to move in different directions. Foreclosure activity has declined somewhat but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying has eased a bit this spring but remains relatively high,” DataQuick reported.

Tags: DataQuick, 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
LOAN CENTER WORKS
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.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

June 17, 2011 (Shirley Allen)

Sales of new and re-sale homes and condos in California remained flat in May 2011 as an estimated 35,536 properties were sold, up 0.9 percent from April’s 35,202 sales, according to the real estate experts at DataQuick.

Year-over-year sales were down 13.3 percent from 40,965 sales in May 2010. Historically, California averages 46,840 sales in the month of May.

The median price for a home in May remained unchanged at $249,000 compared to April and is down 10.4% from a median price of $278,000 in May of 2010. The statewide current cycle peak price was $484,000 in early 2007.

Distressed properties continued to dominate the California market as 53 percent of all re-sales in May were distressed sales.

Properties that had been foreclosed on in the previous twelve months made up 35.5 percent of the existing home sales in May. That was virtually unchanged from the 35.4 percent observed in May of last year and was down from the 36.4 percent observed in the previous month of April 2011.

Short sales increased to 17.9 percent of re-sales last month compared to 16.9 percent in April and down from 18.9 percent in May of 2010.

Falling home prices and interest rates helped bring the typical mortgage payment down to $1,025 in May, slightly lower than April’s typical payment of $1,050, but significantly lower than the $1,178 observed in May 2010. May’s typical mortgage payment is 61.5 percent lower than it was during the current cycle’s peak in June 2006.

“Indicators of market distress continue to move in different directions. Foreclosure activity has declined somewhat but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying has eased a bit this spring but remains relatively high,” DataQuick reported.

Tags: DataQuick, 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
LOAN CENTER WORKS
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.
Helpful Tools

June 17, 2011 (Shirley Allen)

Sales of new and re-sale homes and condos in California remained flat in May 2011 as an estimated 35,536 properties were sold, up 0.9 percent from April’s 35,202 sales, according to the real estate experts at DataQuick.

Year-over-year sales were down 13.3 percent from 40,965 sales in May 2010. Historically, California averages 46,840 sales in the month of May.

The median price for a home in May remained unchanged at $249,000 compared to April and is down 10.4% from a median price of $278,000 in May of 2010. The statewide current cycle peak price was $484,000 in early 2007.

Distressed properties continued to dominate the California market as 53 percent of all re-sales in May were distressed sales.

Properties that had been foreclosed on in the previous twelve months made up 35.5 percent of the existing home sales in May. That was virtually unchanged from the 35.4 percent observed in May of last year and was down from the 36.4 percent observed in the previous month of April 2011.

Short sales increased to 17.9 percent of re-sales last month compared to 16.9 percent in April and down from 18.9 percent in May of 2010.

Falling home prices and interest rates helped bring the typical mortgage payment down to $1,025 in May, slightly lower than April’s typical payment of $1,050, but significantly lower than the $1,178 observed in May 2010. May’s typical mortgage payment is 61.5 percent lower than it was during the current cycle’s peak in June 2006.

“Indicators of market distress continue to move in different directions. Foreclosure activity has declined somewhat but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying has eased a bit this spring but remains relatively high,” DataQuick reported.

Tags: DataQuick, 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.