Fast Facts about California Real Estate

September 11, 2007 at 2:11 am | In Uncategorized | Leave a Comment
Fast Facts about California Real Estate  
 
Calif. median home price – June 07: $594,260(Source: C.A.R.)  
Calif. highest median home price by C.A.R. region June 07: Santa Barbara So. Coast $1,375,000 (Source: C.A.R.)  
Calif. lowest median home price by C.A.R. region June 07: High Desert $306,310 (Source: C.A.R.)  
Calif. First-time Buyer Affordability Index – Second Quarter 07: 24 percent (Source: C.A.R.)  
Mortgage rates – week ending 8/23: 30-yr. fixed: 6.52%; Fees/points: 0.4% 15-yr. fixed: 6.18%; Fees/points: 0.5% 1-yr. adjustable: 5.60%; Fees/points: 0.6% (Source: Freddie Mac)  
C.A.R. Newsline is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing nearly 200,000 REALTORS® statewide.Edited by Mark Giberson, markg@car.org

MBA RELEASES HOUSING AND MORTGAGE MARKETS STUDY

September 4, 2007 at 2:28 pm | In Uncategorized | Leave a Comment

The Mortgage Bankers Association (MBA) has released the findings of a detailed study of the housing and mortgage markets, focusing on the potential of a housing “bubble” and the growth and viability of non-traditional mortgage products.

The study was conducted to address the flood of commentary on the current housing market and assess the risk factors involved with “hybrid” mortgage products believed to have played a significant role in the market’s current downturn.

Among the findings: low mortgage rates at the national level, coupled with strong employment have attributed to an increase in home prices; new mortgage products have enabled more consumers to become homeowners; and regulators are attempting to balance the risks of innovative mortgage products against their benefits.  More info

California Housing Starts Drop Again in July as Buyers Watch and Wait

September 4, 2007 at 2:25 pm | In Uncategorized | Leave a Comment

SACRAMENTO — California homebuilders continued to cut back on production in July, as buyers continued to wait and watch, exacerbated by the recent financial turmoil in the credit and lending industries, the California Building Industry Association reported today.

Total housing starts in California, as measured by building permits issued, fell by 22 percent in July when compared to the same month a year ago. According to housing permit data supplied by the Construction Industry Research Board, production of single-family homes fell by nearly one third while multifamily units saw a slight increase in permits being pulled when compared to July of 2006.  Read more

Fast Facts

September 4, 2007 at 2:20 pm | In Uncategorized | Leave a Comment
Fast Facts  
 
Calif. median home price – June 07: $594,260(Source: C.A.R.)  
Calif. highest median home price by C.A.R. region June 07: Santa Barbara So. Coast $1,375,000 (Source: C.A.R.)  
Calif. lowest median home price by C.A.R. region June 07: High Desert $306,310 (Source: C.A.R.)  
Calif. First-time Buyer Affordability Index – Second Quarter 07: 24 percent (Source: C.A.R.)  
Mortgage rates – week ending 8/23: 30-yr. fixed: 6.52%; Fees/points: 0.4% 15-yr. fixed: 6.18%; Fees/points: 0.5% 1-yr. adjustable: 5.60%; Fees/points: 0.6% (Source: Freddie Mac)  

C.A.R. Newsline is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing nearly 200,000 REALTORS® statewide.

Edited by Mark Giberson, markg@car.org

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