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California Home Sales Surge 15 Percent in December
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You're Now Reading:
California Home Sales Surge 15 Percent in December
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 Surge 15 Percent in December
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Home Selling Tips
About Mortgages
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Mortgage Rates

January 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California surged in December while home prices remained steady even though distressed properties accounted for over half of all existing home sales during the month according to real estate information provider DataQuick.

An estimated total of 37,734 new and existing homes and condos were sold in the Golden State in December. That was 15.5 percent higher than the 32,669 homes sold in November and 4.2 percent higher than the 36,215 homes sold in December 2010. Historically, California typically averages 44,063 home sales in the month of December.

The median sales price for a home in California increased 0.8 percent to $246,000 from $244,000 in November but was 3.1 percent lower than the median price of $254,000 posted in December 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 15 consecutive months.

Distressed property sales accounted for 54.2 percent of all re-sales in December, up from a revised 53.9 percent in November, with homes that had been foreclosed on in the previous twelve months accounting for 34.2 percent of the existing home sales. That was up from a revised 32.9 percent posted in the previous month but down from 38.1 percent in December of 2010.

Short sales remained unchanged at 20.0 percent of all re-sales last month. In December of last year, short sales accounted for 17.8 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in December was $935, up slightly from $931 in November. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $924, reached in October of 2011.

The payment was still $120 less than the average mortgage payment of $1,055 in December of last year. December’s typical mortgage payment was 66.4 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

January 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California surged in December while home prices remained steady even though distressed properties accounted for over half of all existing home sales during the month according to real estate information provider DataQuick.

An estimated total of 37,734 new and existing homes and condos were sold in the Golden State in December. That was 15.5 percent higher than the 32,669 homes sold in November and 4.2 percent higher than the 36,215 homes sold in December 2010. Historically, California typically averages 44,063 home sales in the month of December.

The median sales price for a home in California increased 0.8 percent to $246,000 from $244,000 in November but was 3.1 percent lower than the median price of $254,000 posted in December 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 15 consecutive months.

Distressed property sales accounted for 54.2 percent of all re-sales in December, up from a revised 53.9 percent in November, with homes that had been foreclosed on in the previous twelve months accounting for 34.2 percent of the existing home sales. That was up from a revised 32.9 percent posted in the previous month but down from 38.1 percent in December of 2010.

Short sales remained unchanged at 20.0 percent of all re-sales last month. In December of last year, short sales accounted for 17.8 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in December was $935, up slightly from $931 in November. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $924, reached in October of 2011.

The payment was still $120 less than the average mortgage payment of $1,055 in December of last year. December’s typical mortgage payment was 66.4 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.

January 23, 2012 (Shirley Allen)

Monthly sales of new and existing homes in California surged in December while home prices remained steady even though distressed properties accounted for over half of all existing home sales during the month according to real estate information provider DataQuick.

An estimated total of 37,734 new and existing homes and condos were sold in the Golden State in December. That was 15.5 percent higher than the 32,669 homes sold in November and 4.2 percent higher than the 36,215 homes sold in December 2010. Historically, California typically averages 44,063 home sales in the month of December.

The median sales price for a home in California increased 0.8 percent to $246,000 from $244,000 in November but was 3.1 percent lower than the median price of $254,000 posted in December 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 15 consecutive months.

Distressed property sales accounted for 54.2 percent of all re-sales in December, up from a revised 53.9 percent in November, with homes that had been foreclosed on in the previous twelve months accounting for 34.2 percent of the existing home sales. That was up from a revised 32.9 percent posted in the previous month but down from 38.1 percent in December of 2010.

Short sales remained unchanged at 20.0 percent of all re-sales last month. In December of last year, short sales accounted for 17.8 percent of all existing home sales.

Low mortgage interest rates and the lowest home prices in years helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers in December was $935, up slightly from $931 in November. The lowest monthly payment recorded since DataQuick started keeping records in 1988 was $924, reached in October of 2011.

The payment was still $120 less than the average mortgage payment of $1,055 in December of last year. December’s typical mortgage payment was 66.4 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.