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California Home Sales Decline in September but Prices Hold Steady
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You're Now Reading:
California Home Sales Decline in September but Prices Hold Steady
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:
California Home Sales Decline in September but Prices Hold Steady
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Mortgage Rates
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Home Selling Tips
About Mortgages
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Mortgage Rates

October 19, 2011 (Shirley Allen)

Monthly new and existing home sales in California followed the seasonal summer to fall sales pattern by declining as expected in September, but home prices held steady according to real estate information provider DataQuick.

An estimated total of 35,404 new and resale houses and condos were sold in the Golden State in September. That was down 6.2 percent from 37,734 sales in August but up 6.7 percent from 33,176 home sales in September 2010. Historically, California averages 43,939 home sales in the month of September.

The median price for a home in September remained unchanged from August at $249,000 but is down 6.0 percent from a median price of $265,000 in September of 2010.

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. Year-over-year home prices have declined for 12 consecutive months.

Distressed property sales continued to account for over half of all existing home sales in the California market with 52.5 percent of all re-sales in September being distressed properties, up slightly from 52.4 percent in August, with homes that had been foreclosed on in the previous twelve months accounting for 33.8 percent of the existing home sales in September.

Foreclosure re-sales were down from a revised 34.3 percent posted in the previous month of August and also down from 35.6 percent posted in September of 2010.

Short sales increased to 18.7 percent of all re-sales last month, up from a revised 17.5 percent in August and also up from 15.6 percent in September of 2010.

Low mortgage interest rates helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers declined by another $18 from August to September falling to $964, the lowest payment on record for California when adjusted for inflation since DataQuick began keeping track in 1988.

The payment was also $91 less than the $1,055 payment observed in September of last year. September’s mortgage payment is 65.2 percent lower than it was during the current cycle’s peak in June 2006.

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 MortgageLoanRateUpdate 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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

October 19, 2011 (Shirley Allen)

Monthly new and existing home sales in California followed the seasonal summer to fall sales pattern by declining as expected in September, but home prices held steady according to real estate information provider DataQuick.

An estimated total of 35,404 new and resale houses and condos were sold in the Golden State in September. That was down 6.2 percent from 37,734 sales in August but up 6.7 percent from 33,176 home sales in September 2010. Historically, California averages 43,939 home sales in the month of September.

The median price for a home in September remained unchanged from August at $249,000 but is down 6.0 percent from a median price of $265,000 in September of 2010.

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. Year-over-year home prices have declined for 12 consecutive months.

Distressed property sales continued to account for over half of all existing home sales in the California market with 52.5 percent of all re-sales in September being distressed properties, up slightly from 52.4 percent in August, with homes that had been foreclosed on in the previous twelve months accounting for 33.8 percent of the existing home sales in September.

Foreclosure re-sales were down from a revised 34.3 percent posted in the previous month of August and also down from 35.6 percent posted in September of 2010.

Short sales increased to 18.7 percent of all re-sales last month, up from a revised 17.5 percent in August and also up from 15.6 percent in September of 2010.

Low mortgage interest rates helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers declined by another $18 from August to September falling to $964, the lowest payment on record for California when adjusted for inflation since DataQuick began keeping track in 1988.

The payment was also $91 less than the $1,055 payment observed in September of last year. September’s mortgage payment is 65.2 percent lower than it was during the current cycle’s peak in June 2006.

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 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.

October 19, 2011 (Shirley Allen)

Monthly new and existing home sales in California followed the seasonal summer to fall sales pattern by declining as expected in September, but home prices held steady according to real estate information provider DataQuick.

An estimated total of 35,404 new and resale houses and condos were sold in the Golden State in September. That was down 6.2 percent from 37,734 sales in August but up 6.7 percent from 33,176 home sales in September 2010. Historically, California averages 43,939 home sales in the month of September.

The median price for a home in September remained unchanged from August at $249,000 but is down 6.0 percent from a median price of $265,000 in September of 2010.

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. Year-over-year home prices have declined for 12 consecutive months.

Distressed property sales continued to account for over half of all existing home sales in the California market with 52.5 percent of all re-sales in September being distressed properties, up slightly from 52.4 percent in August, with homes that had been foreclosed on in the previous twelve months accounting for 33.8 percent of the existing home sales in September.

Foreclosure re-sales were down from a revised 34.3 percent posted in the previous month of August and also down from 35.6 percent posted in September of 2010.

Short sales increased to 18.7 percent of all re-sales last month, up from a revised 17.5 percent in August and also up from 15.6 percent in September of 2010.

Low mortgage interest rates helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers declined by another $18 from August to September falling to $964, the lowest payment on record for California when adjusted for inflation since DataQuick began keeping track in 1988.

The payment was also $91 less than the $1,055 payment observed in September of last year. September’s mortgage payment is 65.2 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

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.