Home Sales Edge Higher in California, Prices Continue to Climb
Home Sales Edge Higher in California, Prices Continue to Climb
Home Sales Edge Higher in California, Prices Continue to Climb
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May 22, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California edged slightly higher from March to April while year-over-year home prices improved for the second consecutive month according to real estate information provider DataQuick.

An estimated total of 38,241 new and existing homes and condos were sold in the Golden State in April. That was 2.0 percent higher than the 37,481 homes sold in March and 8.6 percent higher than the 35,202 homes sold in April 2011.

Home sales in the state are typically flat between March and April, with an average difference in sales between the two months of less than 300. Despite being 12.0 percent below the historical average of 44,115 sales for the month, it was still the best showing for the month since 2006.

The median sales price for a home in California increased 5.2 percent to $264,000 from $251,000 in March and was 6.0 percent higher than the median price of $249,000 posted in April of 2011. It was the second 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 April 2009.

Distressed property sales accounted for 48.6 percent of all re-sales in April, down from a revised 51.9 percent in March, with homes that had been foreclosed on in the previous twelve months accounting for 30.3 percent of the existing home sales. That was down from a revised 32.8 percent in March and down from 36.4 percent in April of 2011.

Short sales accounted for an estimated 18.3 percent of all re-sales last month, down from a revised 19.1 in March. In April of last year, short sales accounted for 16.9 percent of all existing home sales.

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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May 22, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California edged slightly higher from March to April while year-over-year home prices improved for the second consecutive month according to real estate information provider DataQuick.

An estimated total of 38,241 new and existing homes and condos were sold in the Golden State in April. That was 2.0 percent higher than the 37,481 homes sold in March and 8.6 percent higher than the 35,202 homes sold in April 2011.

Home sales in the state are typically flat between March and April, with an average difference in sales between the two months of less than 300. Despite being 12.0 percent below the historical average of 44,115 sales for the month, it was still the best showing for the month since 2006.

The median sales price for a home in California increased 5.2 percent to $264,000 from $251,000 in March and was 6.0 percent higher than the median price of $249,000 posted in April of 2011. It was the second 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 April 2009.

Distressed property sales accounted for 48.6 percent of all re-sales in April, down from a revised 51.9 percent in March, with homes that had been foreclosed on in the previous twelve months accounting for 30.3 percent of the existing home sales. That was down from a revised 32.8 percent in March and down from 36.4 percent in April of 2011.

Short sales accounted for an estimated 18.3 percent of all re-sales last month, down from a revised 19.1 in March. In April of last year, short sales accounted for 16.9 percent of all existing home sales.

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
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

May 22, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California edged slightly higher from March to April while year-over-year home prices improved for the second consecutive month according to real estate information provider DataQuick.

An estimated total of 38,241 new and existing homes and condos were sold in the Golden State in April. That was 2.0 percent higher than the 37,481 homes sold in March and 8.6 percent higher than the 35,202 homes sold in April 2011.

Home sales in the state are typically flat between March and April, with an average difference in sales between the two months of less than 300. Despite being 12.0 percent below the historical average of 44,115 sales for the month, it was still the best showing for the month since 2006.

The median sales price for a home in California increased 5.2 percent to $264,000 from $251,000 in March and was 6.0 percent higher than the median price of $249,000 posted in April of 2011. It was the second 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 April 2009.

Distressed property sales accounted for 48.6 percent of all re-sales in April, down from a revised 51.9 percent in March, with homes that had been foreclosed on in the previous twelve months accounting for 30.3 percent of the existing home sales. That was down from a revised 32.8 percent in March and down from 36.4 percent in April of 2011.

Short sales accounted for an estimated 18.3 percent of all re-sales last month, down from a revised 19.1 in March. In April of last year, short sales accounted for 16.9 percent of all existing home sales.

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.