October 2014 National Housing Trends Newsletter

Angela Yglesias

Levesque Realty 

Cell: 805-490-4944   
Phone: 805-490-4944 

Housing Trends October 2014 View archives

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National market update

Existing-Home Sales Rebound in September

WASHINGTON (October 21, 2014) – After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year, according to the National Association of Realtors®. All major regions except for the Midwest experienced gains in September.

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Infographic: September 2014 Existing-Home Sales

Total existing-home sales increased 2.4 percent to 5.17 million in September from 5.05 million in August and are 1.7 percent below the 5.26 million unit pace in September 2013

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National housing indicators

Existing home sales (October)

5.17 millions units*

Existing home median price (October)

$209,700

Housing Starts (October)

1.017 millions units*

New home sales (October)

5.04 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

3rd Qtr 2014

+64.4%

3rd Qtr 2013

+65.3%

The homeownership rate in the third quarter 2014 was 64.4 percent, down 0.9 (+/- 0.4) percentage points from the third quarter 2013 rate of 65.3 percent. The homeownership rates in the Northeast, Midwest and South were lower than the rates in the third quarter 2013, while the rate in the West was not statistically different from the rate a year ago.

New home sales

September 2014

+0.2%

August 2014

+15.3%

Sales of new single-family houses in September 2014 were at a seasonally adjusted annual rate of 467,000. This is 0.2 percent (+/- 15.7%)* above the revised August 2014 estimate of 466,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 150 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Local Prices & State Sales

• CA - Anaheim-Santa Ana Region Real Estate Market
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Local Sales & Price Activity

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Consumer tips & hot properties

How Much Home Can You Afford?

It’s not just how much you make; it’s also what you plan to do with it.

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10 Interior Design Trends That Turn Off Home Buyers

Following some of the hottest home remodeling and interior design trends can backfire when it comes time to sell your home.

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4 Things to Check When You Buy a House in Fall

If you know what to look for, you can actually use the fall season as a litmus test to help you spot potential problems and pluses on your prospective home.

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The 8 Mortgage Mistakes You Can’t Afford to Make

In order to avoid some of the biggest missteps, you should first know what they are.

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When Hiring a Contractor, Look Out for These Red Flags

Contractor red flags can be hard to see, especially if you’ve never hired anyone for a large project on your home.

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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.

National Statistics

• Housing Affordability Index
• National Existing Home Sales
• National Sales Price of Existing Homes

Statistics by City or Metropolitan Area

• Single-family Home Prices
• Condo/Co-op Prices

Regional Statistics

• Existing Home Sales
• Sales Price of Existing Homes
• Existing Single Family Home Sales
• Sales Price of Existing Single-Family Homes
• Existing Condo/Co-op Sales
• Sales Price of Existing Condo/Co-op Homes

Source: NATIONAL ASSOCIATION OF REALTORS®.

Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, realtor.com® local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.

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Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by Move, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of Move, Inc. Move, Inc. makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from or to this eNewsletter nor the accuracy and authenticity of any information contained in such websites, and is not responsible for any content contained in any linked site or for any action or lack of action by any linked site whatsoever, including their use of any information they may collect.

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September 2014 Pending And Distressed Sales Report

Pending home sales reverse five-month decline to tick higher in September

LOS ANGELES (Oct. 28) – California pending home sales rose higher in September to post the first increase in six months, reversing the sales drop usually observed between August and September.  Meanwhile, equity home sales made up nine in 10 home sales for the fourth straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Pending home sales data:

• California pending home sales rose in September, with the Pending Home Sales Index (PHSI)* climbing 2.6 percent from 99.8 in August to 102.4 in September, based on signed contracts.  The increase was significantly above the average August-to-September month-to-month change of -3 percent observed in the past six years.

• Pending sales dipped 0.5 percent from the 102.9 index recorded in September 2013.  The year-to-year drop was the smallest since January 2013, when pending sales increased 2.9 percent on a yearly basis.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

Equity and distressed housing market data:

• The share of equity sales – or non-distressed property sales – remained virtually unchanged in September.  Equity sales made up 90.9 percent of all sales in September, essentially flat from the 91 percent recorded in August.  Equity sales have been more than 80 percent of total sales since July 2013 and have risen to or above 90 percent for the fourth straight month. Equity sales made up 85.7 percent of sales in September 2013.

• The combined share of all distressed property sales continued to stabilize in September and was essentially unchanged from 9 percent in August to 9.1 percent in September. Distressed sales were down nearly 40 percent from a year ago, when the share was 14.3 percent.

• Fourteen of the 41 reporting counties showed a month-to-month decrease in the share of distressed sales, with 19 of the counties recording in the single-digits, including Alameda, Contra Costa, Marin, Napa, Orange, San Benito, San Diego, San Mateo, Santa Clara, and Santa Cruz counties — all of which registered a share of five percent or less.

• Of the distressed properties, the share of short sales remained at its lowest level since February 2008, holding steady at 4.6 percent in September, unchanged from August.  September’s figure was less than half the 9.3 percent recorded in September 2013.

• The share of REO sales dipped in September to 3.9 percent from 4 percent in August and from 4.5 percent in September 2013. 

• The supply of short sales and REO properties eased slightly in September, with the Unsold Inventory Index of REO sales edging up from 2.8 months in August to 3.1 months in September, and from 6.1 months in August to 6.2 months in September for short sales.  The supply of equity sales remained unchanged at 4.1 months in September.

Charts (click links to open):

• Pending sales compared with closed sales.
• Historical trend in the share of equity sales compared with distressed sales.
• Closed housing sales in September by sales type (equity, distressed).
• Housing supply of REOs, short sales, and equity sales in September.
• A historical trend of REO, short sale, and equity sales housing supply.
• Year-to-year change in sales by property type.

Share of Distressed Sales to Total Sales
(Single-family)

Type of Sale	Sep-14	Aug-14	Sep-13
Equity Sales	90.9%	91.0%	85.7%
Total Distressed Sales	9.1%	9.0%	14.3%
REOs	3.9%	4.0%	4.5%
Short Sales	4.6%	4.6%	9.3%
Other Distressed Sales (Not Specified)	0.5%	0.3%	0.5%
All Sales	100.0%	100.0%	100.0%

Single-family Distressed Home Sales by Select Counties(Percent of total sales)

County	Sep-14	Aug-14	Sep-13
Alameda	3%	3%	7%
Amador	11%	10%	18%
Butte	7%	7%	14%
Calaveras	10%	8%	NA
Contra Costa	3%	3%	7%
El Dorado	10%	9%	16%
Fresno	15%	15%	27%
Glenn	26%	19%	24%
Humboldt	8%	10%	13%
Kern	11%	10%	18%
Kings	21%	15%	28%
Lake	22%	29%	31%
Los Angeles	9%	8%	14%
Madera	33%	19%	32%
Marin	3%	2%	7%
Mendocino	14%	11%	23%
Merced	20%	14%	21%
Monterey	10%	10%	21%
Napa	0%	5%	12%
Orange	4%	5%	9%
Placer	8%	7%	11%
Plumas	8%	6%	NA
Riverside	10%	11%	18%
Sacramento	11%	12%	16%
San Benito	3%	7%	13%
San Bernardino	13%	15%	21%
San Diego	5%	6%	4%
San Joaquin	14%	14%	23%
San Luis Obispo	7%	8%	11%
San Mateo	3%	1%	4%
Santa Clara	3%	2%	4%
Santa Cruz	4%	7%	9%
Shasta	15%	14%	22%
Siskiyou	25%	18%	23%
Solano	12%	13%	22%
Sonoma	6%	4%	12%
Stanislaus	11%	12%	23%
Sutter	26%	8%	23%
Tulare	26%	19%	26%
Yolo	9%	6%	9%
Yuba	9%	13%	25%
California	9%	9%	14%

NA = not available

*Note:  C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state.  Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market.  A sale is listed as pending after a seller has accepted a sales contract on a property.  The majority of pending home sales usually becomes closed sales transactions one to two months later.  The year 2008 was used as the benchmark for the Pending Homes Sales Index.  An index of 100 is equal to the average level of contract activity during 2008. 

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 165,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.