Thursday, November 29, 2007

California Existing Home Sales for October

The California Association of Realtors® (CAR) reports that "Home sales decreased 40.2 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 9.9 percent".

As for prices, "The median price of an existing, single-family detached home in California during October 2007 was $497,110, a 9.9 percent decrease from the revised $552,020 median for October 2006, C.A.R. reported. The October 2007 median price fell 6.4 percent compared with September’s $530,830 median price."

To read more: California Association of Realtors

Wednesday, November 28, 2007

October Existing Home Sales

The National Association of Realtors® reports that single-family existing home sales were stable in October, but condo sales were down.

"Single-family home sales were unchanged from September at the seasonally adjusted annual rate of 4.37 million in October, and are 20.8 percent below 5.52 million-unit level in October 2006.  The median existing single-family home price was $205,700 in October, down 6.3 percent from a year ago."

"Existing condominium and co-op sales fell 9.1 percent to a seasonally adjusted annual rate of 600,000 units in October from 660,000 in September, but are 20.2 percent below the 752,000-unit pace in October 2006.  The median existing condo price4 was $223,500 in October, up 4.9 percent from a year ago."

To read more: National Association of Realtors®

Tuesday, November 20, 2007

Real Estate and Green Building

The National Association of Realtors has found that "While nearly seven in every 10 consumers believe that energy conservation is important or extremely important, the cost of green improvements is still a significant factor in many home buyers’ decisions about purchasing energy-efficient home features."

To read more on the "greening" of real estate: National Association of Realtors

Wednesday, November 14, 2007

Foreclosures UP!

RealtyTrak® reports that for the third quarter of 2007, "...Stockton, Calif., Detroit and Riverside-San Bernardino, Calif., documented the three highest foreclosure rates among the nation’s 100 largest metropolitan areas."

To read more: RealtyTrak

Monday, November 05, 2007

Fred Sands tells realtors to get out of the business

That's right! At a California Association of Realtors symposium last week, Fred Sands, former chairman and CEO of Fred Sands REALTORS®, has advice for realtors who have been in the business for less than six year ... you might want to get a different job. He was not optimistic about the housing market either.

There's a good article in the Los Angeles Times

Sunday, November 04, 2007

Foreclosures Up!

Realty Trac reports that for the third quarter of 2007 " ... 30 percent increase from the previous quarter and an increase of nearly 100 percent from the third quarter of 2006."

Where are the foreclosures concentrated? For the third quarter of 2007, Nevada was number 1, followed by California and Florida. The top ten is completed by Michigan, Ohio, Colorado, Arizona, Georgia, Indiana and Texas.

There is a lot of data plus a chart on the Realty Trac website. You can read more: Realty Trac