Archive for October, 2011
Happy Fall – A quick Overview of home prices in Sacramento!
October 20th, 2011 categories: Real Estate news
Our California Association of Realtors published an interesting article on the pending home sales. Even though we were down this month, we were up in sales from the previous year. Buyers with good credit scores and incomes seize the opportunity to become home owners.
For release:
October 20, 2011
LOS ANGELES (Oct. 20) – Pending home sales in California fell in September, as is typical for this time of year, but were up from the previous year for the fifth consecutive month. Additionally, distressed home sales increased slightly in September from both the previous month and year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
Pending home sales:
California pending home sales fell 5.2 percent in September, but were up from a year ago, according to C.A.R.’s Pending Home Sales Index (PHSI)*. The index was 118.5 in September, based on contracts signed in that month, down from August’s index of 125.0. The index was up 8.4 percent from September 2010. September marked the fifth consecutive month that pending sales rose from the previous year. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.
“While recent pending home sales have increased from last year’s levels, housing inventory remains lean across all property types, particularly REOs (real estate-owned), which currently is at a 2.6-month supply,” said C.A.R. President Beth L. Peerce. “However, some major lenders recently announced they would accelerate the release of REOs onto the market, which should help alleviate the current shortage of housing inventory.”
Distressed housing market data:
The total share of all distressed property types sold statewide rose to 44.4 percent in September, up from August’s 43.7 percent and 43.6 percent in September 2010.
Of the distressed properties sold statewide in September, 20.2 percent were short sales, up from the previous month’s share of 18.9 percent and last September’s share of 19.5 percent.
At 24 percent, the share of REO sales was down slightly from August’s 24.4 percent, but up from the 23.8 percent reported in September 2010.
Equity sales made up the remaining share of home sales in September at 55.6 percent, down from 56.3 percent in August and 56.4 percent in September 2010.
Multimedia:
Share of Distressed Sales to Total Sales
(Single-family)
Type of Sale Sept. 2010 Aug. 2011 Sept. 2011
REOs 23.80% 24.40% 24.00%
Short Sales 19.50% 18.90% 20.20%
Other Distressed Sales
(Not Specified) 0.30% 0.40% 0.30%
Total Distressed Sales 43.60% 43.70% 44.40%
Single-family Distressed Home Sales by Select Counties
(Percent of total sales)
County Sept. 2010 Aug. 2011 Sept. 2011
Amador 59% 59% 54%
Butte 30% 42% 42%
Humboldt 22% 31% 19%
Kern 71% 60% 61%
Lake 69% 64% 61%
Los Angeles 43% 44% 46%
Madera 74% 73% 65%
Marin 25% 27% 35%
Mendocino 50% 48% 41%
Merced 50% 59% 61%
Monterey 64% 62% 59%
Napa 47% 48% 51%
Orange 32% 33% 36%
Riverside 68% 62% 60%
Sacramento 64% 62% 64%
San Benito 54% 67% 73%
San Bernardino 64% 64% 65%
San Diego 25% 27% 25%
San Luis Obispo 45% 45% 40%
San Mateo 20% 25% 26%
Santa Clara 34% 31% 35%
Santa Cruz 38% 35% 40%
Solano 67% 71% 73%
Sonoma 46% 43% 49%
Tehama 76% 56% 62%
CALIFORNIA (rounded) 44% 44% 44%
For more information on Sacramento real estate, please contact Carmen at 916-342-2446, or e-mail at carmen@carmenmicsa.com. Also to receive free listings, go to www.Dynamicsacramentohomes.com. And last, but not least be sure to ask for your 7-night cruise when buying with Carmen and her team of experienced agents. Also ask us how you can get $500 credit or more towards your closing costs when you mention this blog for all homes priced $100,000 and above. Some restrictions apply.
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