C.A.R. Pending Home Sales Index dropped as expected between November and December, tracking the annual seasonal slowdown. However, the index was higher than a year ago for the eighth straight month, a trend that bodes well for the start of the spring home-buying season.
C.A.R.’s Pending Home Sales Index (PHSI) fell from a revised 108.7 in November to 91.6 in December, based on signed contracts. The index was up from the revised 82.5 recorded in December 2010, marking the eighth consecutive month that pending sales rose from the previous year. The decline follows a normal seasonal drop that usually occurs in November and December. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.
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The San Francisco Chronicle
Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac said.
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http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/12/BUPF1MOFAU.DTL
Calif. median home price: November 2011: $280,960 (Source: C.A.R.)
Calif. highest median home price by region/county November 2011: Marin: $736,410 (Source: C.A.R.)
Calif. lowest median home price by region/county November 2011: Madera: $103,330 (Source: C.A.R.)
Calif. Pending Home Sales Index: November 2011: 109.8, an increase of 11 percent compared with the prior year.
Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)
Mortgage rates: Week ending 1/5/2012 30-yr. fixed: 3.91% fees/points: 0.8% 15-yr. fixed: 3.23 fees/points: 0.8% 1-yr. adjustable: 2.80% Fees/points: 0.6% (Source: Freddie Mac)
Housingwire
Pending home sales in California declined from October to November, but grew over last year, the CALIFORNIA ASSOCIATION OF REALTORS® reported last week.
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http://www.housingwire.com/2011/12/21/california-pending-home-sales-drop-in-november-2
Calif. median home price: November 2011: $280,960 (Source: C.A.R.)
Calif. highest median home price by region/county November 2011: Marin: $736,410 (Source: C.A.R.)
Calif. lowest median home price by region/county November 2011: Madera: $103,330 (Source: C.A.R.)
Calif. Pending Home Sales Index: November 2011: 109.8, an increase of 11 percent compared with the prior year.
Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)
Mortgage rates: Week ending 12/22/2011 30-yr. fixed: 3.91% fees/points: 0.7% 15-yr. fixed: 3.21 fees/points: 0.8% 1-yr. adjustable: 2.77% Fees/points: 0.6% (Source: Freddie Mac)
