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Bay Area April Home Sales Flat, Prices Improving
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You're Now Reading:
Bay Area April Home Sales Flat, Prices Improving
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Bay Area April Home Sales Flat, Prices Improving
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May 30, 2012 (Jeff Alan)

Monthly sales of existing single-family homes and condominiums in the San Francisco Bay area remained virtually unchanged from March to April while home prices record their first annual increase in 19 months according to real estate information provider DataQuick..

A total of 7,675 new and resale homes were sold in April in the nine county Bay Area, which includes Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma Counties. That was slightly less than the 7,694 home sales in March and 13.1 percent higher than the 6,789 sales posted in April of 2011. Year-over-year home sales have improved for ten consecutive months.

Home sales typically increase slightly from March to April in the Bay area with last month’s sales still 15.5 percent below the historical average of 9,088 sales, but it was still productive enough to be the highest amount of sales for an April in six years.

Cash buyers accounted for 28.8 percent of the homes purchased for the month, down from 29.4 percent in March and they paid a median price of $270,000 for their purchases, up from $250,000 the previous month.

Absentee buyers, usually investors and vacation home buyers, accounted for 23.7 percent of all sales, down from 24.2 percent in March, paying a median price of $270,500 for the homes they purchased.

The median sales price for new and resale homes and condos in April increased 8.9 percent to $390,000, up from $358,000 in March. The median price was 8.3 percent higher than in April of 2011, when the median price stood at $360,000. It was the first time in 19 months that home prices have improved year-over-year in the Bay area.

By comparison, the lowest median price posted during the current real estate cycle was $290,000 in April 2009, while the peak median price was $665,000 in June/July 2007.

John Walsh, president of DataQuick, stated, “It appears that the market is taking a step in the direction of normalization, but only a step. We’re still watching technical indicators more than top-line sales counts and median prices. The mortgage market is critical, as is market mix and the receding importance of foreclosure resales.”

Distressed home sales accounted for 39.8 percent of the Bay Area’s re-sale market last month, down from a revised 44.4 percent in March. Foreclosure re-sales accounted for 21.7 percent of all existing home sales in April, down from a revised 25.5 percent in March, while short sales made up about 18.1 percent of the Bay Area’s existing home sales last month, down from a revised 18.9 percent in March.

Tags: Bay Area, DataQuick, home sales, home prices, spring selling season, median sales price, new homes, re-sale homes

Source:
Dataquick

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May 30, 2012 (Jeff Alan)

Monthly sales of existing single-family homes and condominiums in the San Francisco Bay area remained virtually unchanged from March to April while home prices record their first annual increase in 19 months according to real estate information provider DataQuick..

A total of 7,675 new and resale homes were sold in April in the nine county Bay Area, which includes Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma Counties. That was slightly less than the 7,694 home sales in March and 13.1 percent higher than the 6,789 sales posted in April of 2011. Year-over-year home sales have improved for ten consecutive months.

Home sales typically increase slightly from March to April in the Bay area with last month’s sales still 15.5 percent below the historical average of 9,088 sales, but it was still productive enough to be the highest amount of sales for an April in six years.

Cash buyers accounted for 28.8 percent of the homes purchased for the month, down from 29.4 percent in March and they paid a median price of $270,000 for their purchases, up from $250,000 the previous month.

Absentee buyers, usually investors and vacation home buyers, accounted for 23.7 percent of all sales, down from 24.2 percent in March, paying a median price of $270,500 for the homes they purchased.

The median sales price for new and resale homes and condos in April increased 8.9 percent to $390,000, up from $358,000 in March. The median price was 8.3 percent higher than in April of 2011, when the median price stood at $360,000. It was the first time in 19 months that home prices have improved year-over-year in the Bay area.

By comparison, the lowest median price posted during the current real estate cycle was $290,000 in April 2009, while the peak median price was $665,000 in June/July 2007.

John Walsh, president of DataQuick, stated, “It appears that the market is taking a step in the direction of normalization, but only a step. We’re still watching technical indicators more than top-line sales counts and median prices. The mortgage market is critical, as is market mix and the receding importance of foreclosure resales.”

Distressed home sales accounted for 39.8 percent of the Bay Area’s re-sale market last month, down from a revised 44.4 percent in March. Foreclosure re-sales accounted for 21.7 percent of all existing home sales in April, down from a revised 25.5 percent in March, while short sales made up about 18.1 percent of the Bay Area’s existing home sales last month, down from a revised 18.9 percent in March.

Tags: Bay Area, DataQuick, home sales, home prices, spring selling season, median sales price, new homes, re-sale homes

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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.

May 30, 2012 (Jeff Alan)

Monthly sales of existing single-family homes and condominiums in the San Francisco Bay area remained virtually unchanged from March to April while home prices record their first annual increase in 19 months according to real estate information provider DataQuick..

A total of 7,675 new and resale homes were sold in April in the nine county Bay Area, which includes Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Solano and Sonoma Counties. That was slightly less than the 7,694 home sales in March and 13.1 percent higher than the 6,789 sales posted in April of 2011. Year-over-year home sales have improved for ten consecutive months.

Home sales typically increase slightly from March to April in the Bay area with last month’s sales still 15.5 percent below the historical average of 9,088 sales, but it was still productive enough to be the highest amount of sales for an April in six years.

Cash buyers accounted for 28.8 percent of the homes purchased for the month, down from 29.4 percent in March and they paid a median price of $270,000 for their purchases, up from $250,000 the previous month.

Absentee buyers, usually investors and vacation home buyers, accounted for 23.7 percent of all sales, down from 24.2 percent in March, paying a median price of $270,500 for the homes they purchased.

The median sales price for new and resale homes and condos in April increased 8.9 percent to $390,000, up from $358,000 in March. The median price was 8.3 percent higher than in April of 2011, when the median price stood at $360,000. It was the first time in 19 months that home prices have improved year-over-year in the Bay area.

By comparison, the lowest median price posted during the current real estate cycle was $290,000 in April 2009, while the peak median price was $665,000 in June/July 2007.

John Walsh, president of DataQuick, stated, “It appears that the market is taking a step in the direction of normalization, but only a step. We’re still watching technical indicators more than top-line sales counts and median prices. The mortgage market is critical, as is market mix and the receding importance of foreclosure resales.”

Distressed home sales accounted for 39.8 percent of the Bay Area’s re-sale market last month, down from a revised 44.4 percent in March. Foreclosure re-sales accounted for 21.7 percent of all existing home sales in April, down from a revised 25.5 percent in March, while short sales made up about 18.1 percent of the Bay Area’s existing home sales last month, down from a revised 18.9 percent in March.

Tags: Bay Area, DataQuick, home sales, home prices, spring selling season, median sales price, new homes, re-sale homes

Source:
Dataquick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
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 MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.