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California Home Sales Fall in January, Still Higher than Last Year
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You're Now Reading:
California Home Sales Fall in January, Still Higher than Last Year
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 Fall in January, Still Higher than Last Year
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Home Selling Tips
About Mortgages
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Mortgage Rates

February 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California followed seasonal norms and declined in January but remained above year ago levels while home prices ended the month lower according to real estate information provider DataQuick.

An estimated total of 28,111 new and existing homes and condos were sold in the Golden State in January. That was 25.5 percent lower than the 37,734 homes sold in December but still 1.5 percent higher than the 27,706 homes sold in January 2011. Historically, California typically averages 31,717 home sales in the month of January.

The median sales price for a home in California fell 4.1 percent to $236,000 from $246,000 in December and was 1.3 percent lower than the median price of $239,000 posted in January of 2011.

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 16 consecutive months.

Distressed property sales accounted for 55.9 percent of all re-sales in January, up from a revised 53.5 percent in December, with homes that had been foreclosed on in the previous twelve months accounting for 34.5 percent of the existing home sales. That was up from a revised 33.9 percent posted in the previous month but down from 40.4 percent in January of 2011.

Short sales accounted for an estimated 21.4 percent of all re-sales last month, up from 19.6 in December. In January of last year, short sales accounted for 18.7 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years continued to help California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in January was $893, down from $935 in December. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $882, reached in February 1999.

The payment was $106 less than the average mortgage payment of $999 in January of last year. January’s typical mortgage payment was 66.9 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, 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 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

February 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California followed seasonal norms and declined in January but remained above year ago levels while home prices ended the month lower according to real estate information provider DataQuick.

An estimated total of 28,111 new and existing homes and condos were sold in the Golden State in January. That was 25.5 percent lower than the 37,734 homes sold in December but still 1.5 percent higher than the 27,706 homes sold in January 2011. Historically, California typically averages 31,717 home sales in the month of January.

The median sales price for a home in California fell 4.1 percent to $236,000 from $246,000 in December and was 1.3 percent lower than the median price of $239,000 posted in January of 2011.

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 16 consecutive months.

Distressed property sales accounted for 55.9 percent of all re-sales in January, up from a revised 53.5 percent in December, with homes that had been foreclosed on in the previous twelve months accounting for 34.5 percent of the existing home sales. That was up from a revised 33.9 percent posted in the previous month but down from 40.4 percent in January of 2011.

Short sales accounted for an estimated 21.4 percent of all re-sales last month, up from 19.6 in December. In January of last year, short sales accounted for 18.7 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years continued to help California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in January was $893, down from $935 in December. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $882, reached in February 1999.

The payment was $106 less than the average mortgage payment of $999 in January of last year. January’s typical mortgage payment was 66.9 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, 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 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.

February 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California followed seasonal norms and declined in January but remained above year ago levels while home prices ended the month lower according to real estate information provider DataQuick.

An estimated total of 28,111 new and existing homes and condos were sold in the Golden State in January. That was 25.5 percent lower than the 37,734 homes sold in December but still 1.5 percent higher than the 27,706 homes sold in January 2011. Historically, California typically averages 31,717 home sales in the month of January.

The median sales price for a home in California fell 4.1 percent to $236,000 from $246,000 in December and was 1.3 percent lower than the median price of $239,000 posted in January of 2011.

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 16 consecutive months.

Distressed property sales accounted for 55.9 percent of all re-sales in January, up from a revised 53.5 percent in December, with homes that had been foreclosed on in the previous twelve months accounting for 34.5 percent of the existing home sales. That was up from a revised 33.9 percent posted in the previous month but down from 40.4 percent in January of 2011.

Short sales accounted for an estimated 21.4 percent of all re-sales last month, up from 19.6 in December. In January of last year, short sales accounted for 18.7 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years continued to help California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in January was $893, down from $935 in December. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $882, reached in February 1999.

The payment was $106 less than the average mortgage payment of $999 in January of last year. January’s typical mortgage payment was 66.9 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, California, 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.