Calif. median home price: March 2012: $291,080 (Source: C.A.R.)
Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.)
Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: March 2012: 143.7, an increase from the revised 126.5 recorded in February.
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 5/3/2012 30-yr. fixed: 3.84% fees/points: 0.8% 15-yr. fixed: 3.07 fees/points: 0.7% 1-yr. adjustable: 2.70% Fees/points: 0.6% (Source: Freddie Mac)
California pending home sales posted higher for the third consecutive month in March, rising from both the previous month and year, C.A.R. reported Tuesday. Additionally, the share of distressed sales dropped for the second consecutive month, as equity sales typically increase with the start of the spring home buying season.
C.A.R.’s Pending Home Sales Index (PHSI)* rose from a revised 126.5 in February to 143.7 in March, based on signed contracts. The March 2012 index was the highest since April 2009, when the PHSI was 146.9. The index also was up from the 128.9 index recorded in March 2011, marking the eleventh consecutive month that pending sales were higher than the previous year. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.
The share of equity sales – or non-distressed property sales – compared with total sales increased in March to 55.4, up from 51.1 percent in February. Equity sales made up 50.2 percent of all sales in March 2011.
Meanwhile, the total share of all distressed property types sold statewide decreased in March to 44.6 percent, down from February’s 48.9 percent and from 49.8 percent in March 2011.
The share of short sales was down again in March. Of the distressed properties sold statewide in March, 21.1 percent were short sales, down from February’s share of 23 percent but up from last March’s share of 20.1 percent.
The share of REO sales also declined in March to 23.1 percent, down from February’s 25.2 percent and down from the 29.4 percent recorded in March 2011.
http://www2.realtoractioncenter.com/site/R?i=CxnpsyB6cmaNsJ4cPX1d_g
Calif. median home price: March 2012: $291,080 (Source: C.A.R.)
Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.)
Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: February 2012: 127.8, an increase from the revised 102.4 recorded in January.
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 4/12/2012 30-yr. fixed: 3.88% fees/points: 0.7% 15-yr. fixed: 3.11 fees/points: 0.7% 1-yr. adjustable: 2.80% Fees/points: 0.6% (Source: Freddie Mac)
San Diego Union-Tribune
Some borrowers are getting mixed and murky messages from their lenders on whether they qualify for benefits through a $25 billion mortgage settlement that may soon become official in 49 states.
Read the full story
http://www.utsandiego.com/news/2012/feb/20/customers-get-mixed-signals-banks-25b-mortgage-dea/
The San Francisco Chronicle
Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac said.
Read the full story
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/12/BUPF1MOFAU.DTL
