Existing-Home Sales Fell 8.0%
Total existing-home sales – including
single-family, townhomes, condominiums and co-ops – fell
8.0 percent to a seasonally adjusted annual rate 1 of 5.04
million units in September from a downwardly revised pace
of 5.48 million in August, and are 19.1 percent below the
6.23 million-unit level in September 2006, according to the
National Association of Realtors®. Even so, prices rose
in the Northeast and Midwest.
Home Sales at 15-year
Low, Prices Edge Down
Home sales in Southern California dropped to their lowest level since 1992 as
buyers, sellers and lenders held back in an environment of market uncertainty.
Prices are off their peak, markedly so in lower cost neighborhoods, a real estate
information service reported.
Acitvity Decreases 7% in June
Foreclosure Filings Still Up 87 Percent
From June 2006
RealtyTrac, the leading online marketplace for foreclosure
properties, released its June 2007 U.S. Foreclosure Market
Report, which shows a total of 164,644 foreclosure filings — default notices, auction sale notices and bank repossessions —
were reported during the month, down 7 percent from the previous
month but still up 87 percent from June 2006.
Filings Up Nearly
90 Percent From May 2006
RealtyTrac (realtytrac.com), the leading online marketplace
for foreclosure properties, released its May 2007 U.S. Foreclosure
Market Report, which shows a total of 176,137 foreclosure filings
— default notices, auction sale notices and bank repossessions
— were reported during the month, up 19 percent from
the previous month and up nearly 90 percent from May 2006.
Rights Groups Want
National civil rights groups are calling for mortgage
lenders, loan servicers and loan investors to institute an immediate
six-month moratorium on subprime home foreclosures resulting
from reckless and unaffordable loans in the subprime market.
Home Sales: Slowest
January Since 1998, Stable Prices
La Jolla,CA----Southern California home buyers and sellers continued
to eye each other without doing much last month, resulting in
the slowest January in nine years, a real estate information
Sellers in a "Wait and See" Attitude
As we kick off 2007, many would-be home sellers
are taking a cautious “wait and see” attitude toward
the housing market. The latest ServiceMagic.com poll shows more
than one in three respondents – 36% – would like
to sell their homes, but are holding off until the housing
market regains its strength.