Starting this month I will be writing about the monthly Home Sales/Real Estate trends in Bay Area. Look out for this update between 15th and 20th of every month. The update will be for month before.
Data Quick reported that Home Sales in the Bay Area jumped to their highest levels in 3 years. The median price paid for a home also increased month-to-month for 3rd month in a row.A total of 8,644 new and resale houses and condos sold across the nine-county Bay Area in June. That was up 16.1 percent from 7,447 in May and up 20.4 percent from 7,178 in June 2008, according to San Diego-based MDA Data Quick. The table below breaks down the numbers:
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Tag: Real Estate Trends
Potent combination of FHA Financing, Steep Home Price Declines & Low Mortgage Rates
According to DataQuick Bay Area home sales posted a year-over-year gain for the eighth consecutive month in April. Santa Clara county had 1606 sales in April 09 compared to 1440 in April 08 up 11.5%. Alameda county had 1457 sales in April 09 compared to 1240 in April 08, up 17.5%. The question is what is causing this robust sales. I guess, I gave away the answer in the post header. Lets discuss the top 3 reasons one at a time. FHA Financing - In April FHA mortgages represented a record 26% of…
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Housing approaching a trough
In the summary of Fed's late-April meeting released yesterday, there were some important pointers to the economy:
Fed officials saw the economy contracting between 1.3% and 2% this year and the GDP was only expected to advance 2%-3% next year. The Unemployment rate is expected to end 2009 between 9.2% and 9.6%, higher than what officials expected in January. Note that for Santa Clara County the unemployment rate at the end of March 2009 was at 10.8% and for Alameda county was at 10.5%. (more…)
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