Monday, June 29, 2015

California Pending Home Sales Gain Steam To Post Six Straight Months of Annual Gains

Market continues strong with home prices stabilizing.
LOS ANGELES (June 22) – With the California housing market continuing its upward trend, pending home sales registered their sixth straight annual gain, with the last four months being in the double-digits, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

In a separate report, California REALTORS® responding to C.A.R.’s May Market Pulse Survey saw more floor calls, listing appointments, and open house traffic, compared to April. The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS®, which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

Pending home sales data:

• California pending home sales were up 12.1 percent on an annual basis from the revised 110.3 index recorded in May 2014, marking the sixth straight month of year-to-year gains and the fourth straight month of double-digit advances.

• Statewide pending home sales fell in May on a month-to-month basis, with the Pending Home Sales Index (PHSI)* decreasing 4.6 percent from a revised 129.6 in April to 123.6, based on signed contracts.  The month-to-month decrease was below the average April-May loss of 3.6 percent observed in the last seven years.

• A shortage of available homes in the San Francisco Bay Area stifled pending sales in May, pushing the PHSI to 135.1, down 1.1 percent from 136.6 in April and down 2.4 percent from the 138.5 index recorded in May 2014.

• Pending home sales in Southern California reversed last month’s decline to rise 1.6 percent in May to reach an index of 105.4, up 12.5 percent from the May 2014 index of 93.7.

• Central Valley pending sales fell in May after three straight months of increases, dropping 16.1 percent from April to reach an index of 108.4 in May but up 18 percent from the 91.9 index of May 2014.  

Equity and distressed housing market data:

• The share of equity sales – or non-distressed property sales – edged up further in May to make up 92.6 percent of all home sales, the highest level since late 2007. Equity sales made up 91.8 percent of all home sales in April and 88.8 percent in May 2014. The share of equity sales has been at or near 90 percent since mid-2014.

• Conversely, the combined share of all distressed property sales (REOs and short sales) fell in May, down from 8.2 percent in April to 7.4 percent in May.  Distressed sales made up 11.2 percent of total sales a year ago. Twenty-seven of the 43 counties that C.A.R. reported showed month-to-month decreases in their distressed sales shares, with Glenn having the smallest share of distressed sales at 0 percent, followed by San Mateo (1 percent), and Santa Clara (1 percent).  Mariposa had the highest share of distressed sales at 18 percent, followed by Siskiyou (17 percent), and Mendocino, Merced, Plumas, and Yuba (all at 16 percent).
May REALTOR® Market Pulse Survey**:

• In a sign of stabilizing home prices, the share of sales closing below asking price has been on a downward trend for four straight months. One in four (40 percent) transactions closed below asking price in May, down from the highest point of 55 percent in January 2015.  More than a third of homes (34 percent) closed over asking price, and 26 percent closed at asking price.

• The premium paid over asking price declined in May, suggesting diminished market competition among home buyers. In May, homes that sold above asking price sold for an average of 8 percent above asking price, down from 10 percent in April but up from 6.5 percent in May 2014.

• Homes that sold below asking price sold for an average of 7 percent below asking price in May, down for the first time in four months.

• The share of properties receiving multiple offers fell for the first time in four months. Sixty-five percent of properties received multiple offers in May, down from 72 percent in April and up from 62 percent a year ago.

• The average number of offers per property decreased for the first time in three months, slipping from 3.6 in April to 2.8 in May.

• Floor calls, listing appointments, and open house traffic were all up in May, compared to the previous month, suggesting a solid summer home-buying season.

• While the majority of REALTORS® (86 percent) expect better or similar market conditions over the next year, the percentage of REALTORS® who are optimistic about conditions over the coming year has been on the decline for the past four months from 62 percent in January to 41 percent in May.

Graphics (click links to open):


Share of Distressed Sales to Total Sales

(Single-family)
Type of SaleMay-15Apr-15May-14
Equity Sales92.6%91.8%88.8%
Total Distressed Sales7.4%8.2%11.2%
     REOs3.6%4.1%4.8%
     Short Sales3.4%3.8%5.9%
     Other Distressed Sales (Not Specified) 0.4%0.4%0.5%
All Sales 100.0%100.0%100.0%

Single-family Distressed Home Sales by Select Counties

(Percent of total sales)
CountyMay-15Apr-15May-14
Alameda3%3%2%
Amador9%16%15%
Butte6%14%16%
Calaveras10%15%13%
Contra Costa2%3%6%
El Dorado5%9%12%
Fresno11%12%17%
Glenn0%5%18%
Humboldt14%7%12%
Kern8%8%12%
Kings13%24%31%
Lake15%16%25%
Los Angeles7%8%11%
Madera6%14%20%
Marin2%3%3%
Mariposa18%11%27%
Mendocino16%7%22%
Merced16%8%12%
Monterey7%5%12%
Napa5%6%8%
Orange4%6%6%
Placer6%8%10%
Plumas16%24%37%
Riverside10%11%14%
Sacramento10%12%15%
San Benito6%12%13%
San Bernardino10%11%18%
San Diego5%6%6%
San Francisco3%2%3%
San Joaquin10%13%17%
San Luis Obispo6%6%5%
San Mateo1%1%3%
Santa Clara1%3%3%
Santa Cruz4%2%6%
Shasta13%12%15%
Siskiyou17%13%19%
Solano10%9%16%
Sonoma3%5%6%
Stanislaus8%11%14%
Sutter13%11%17%
Tulare14%16%21%
Yolo2%7%12%
Yuba16%11%23%


*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.

**C.A.R.’s Market Pulse Survey is a monthly online survey of more than 300 California REALTORS® to measure data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

Leading the way...® in California real estate for 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles. 

Saturday, June 20, 2015

Chinese Dominate as Buyers of U.S. Real Estate

Chinese buyers have surpassed Canadians as the most dominant foreign home purchasers in the United States, according to the National Association of REALTORS®' 2015 Profile of Home Buying Activity of International Clients, released this week.
Home buyers from China comprised 16 percent of international buyers who purchased single-family homes and condos in the 12-month period ending in March, up from 12 percent in 2013. On the other hand, Canadians comprised 14 percent of international buyers, down from 23 percent in 2013, NAR reports.
For several years, Canadians have been the biggest foreign buyers of U.S. homes. But Canadian sales have fallen, partially due to the weak Canadian currency, The Wall Street Journal reports.
Chinese buyers aren't just buying more properties, they're also spending more than other international buyers too. Chinese buyers purchased $28.6 billion of U.S. properties in the 12-month period ending in March compared to $11.2 billion of properties purchased by Canadians, NAR’s report shows.
Overall, international buyers, which make up only 4 percent of existing home sales, spent on average $499,600 on a property last year -- compared to the average U.S. home price of $255,600. Chinese buyers spent the most on their U.S. home purchases, averaging $831,800. The average price of home purchased by Canadians was $380,300.
The increase in Chinese buyers reflects a growing view from the Chinese who view American real estate as a relative safe haven, where rules surrounding owning property are well defined and the economy is viewed as strong and stable, Jed Smith, NAR's managing director of quantitative research, told The Wall Street Journal.
Source: "Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes," The Wall Street Journal (June 17, 2015)

Friday, June 12, 2015

Mortgage Rates Set New High for 2015

Fixed-rate mortgages were back on the rise again this week, with the 30-year fixed-rate mortgage rising above the 4 percent average for the first time in nearly a year, Freddie Mac reports in its weekly mortgage market survey.
"Mortgage rates rose above 4 percent for the first time since November 2014 as Treasury yields surged," says Len Kiefer, deputy chief economist at Freddie Mac. "Markets are responding to strong employment data. In May, the U.S. economy added 280,000 jobs. Moreover, job openings surged to 5.4 million in April, up over 20 percent from a year ago."
Freddie Mac reports the following national averages with mortgage rates for the week ending June 11:
  • 30-year fixed-rate mortgages: averaged 4.04 percent, with an average 0.6 point, rising from last week's 3.87 percent average. Last year at this time, 30-year rates averaged 4.20 percent. 
  • 15-year fixed-rate mortgages: averaged 3.25 percent, with an average 0.6 point, rising from last week's 3.08 percent average. A year ago, 15-year rates averaged 3.31 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.01 percent, with an average 0.4 point, rising from last week's 2.96 percent average. Last year at this time, 5-year ARMs averaged 3.05 percent.
  • 1-year ARMs: averaged 2.53 percent, with an average 0.2 point, dropping from last week's 2.59 percent average. A year ago, 1-year ARMs averaged 2.40 percent.
Source: Freddie Mac

Monday, June 8, 2015

Newbury Park Home For Sale, Conejo Valley Homes For Sale


Entertainers dream home!!!  Come take a look, stunning views throughout, custom built and located on a quiet cul-de-sac.  You do not want to miss this gorgeous home!!!  Click link below for full details.







http://rapcoop.rapmls.com/scripts/mgrqispi.dll?APPNAME=rapcoop&PRGNAME=MLSLogin&ARGUMENT=LoCbyorfRWSHYyXbLP8My977S6CWqncFH3LAQHLgaqP8DWC0IRI2YNv/urW8jjM6&KeyRid=1

Saturday, June 6, 2015

May 2015 National Housing Trends Newsletter

Angela Yglesias

Levesque Realty 

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

Housing Trends

May 2015


Use our tools
to find out

Neighborhood reports

Market Snapshot
Get a detailed report showing market trends in your neighborhood, including recent listings, sales prices and average time on market.
Get a report

Find a Mover

Find a Mover

Type of Move
Move date
Moving From Zip
Moving To Zip
Size of Move

Mortgage rates

Powered by thefinancials.com

Mortgage calculator

Market Snapshot
Get a detailed report showing market trends in your neighborhood, including recent listings, sales prices and average time on market.
Get a report

Rent vs buy

How big is an acre? What is an option?
Do I need hazard insurance?

Take a look at our real estate glossary to learn definitions of common words and phrases used in the industry.

National market update

Existing-Home Sales Lose Momentum in April

WASHINGTON (May 21, 2015) — Despite properties typically selling faster than at any time since July 2013, existing–home sales slowed in April but remained above an annual sales pace of five million for the second straight month, according to the National Association of Realtors®. All major regions except for the Midwest experienced sales declines in April.

Read more

Owners Place High Value on Good Yards

Don't underestimate the importance of a beautiful yard to home owners and their neighbors. 84 percent of adults say that the quality of a home's landscape and yard would affect their decision on whether to purchase a home or not, according to a new survey of more than 2,000 adults conducted by the National Association of Landscape Professionals.

Read more

National housing indicators

Existing home sales (May)

5.04 millions units*

Existing home median price (May)

$219,400

Housing Starts (May)

11.35 millions units*

New home sales (May)

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

National economic indicators

Home ownership

1st Qtr 2015

+63.7%

1st Qtr 2014

+64.8%
The homeownership rate in the first quarter 2015 was 63.7 percent, down 1.1 (+/- 0.4) percentage points from the first quarter 2014 rate of 64.8 percent. The homeownership rates in the Northeast, South and West were lower than the rates in the first quarter 2014, while the rate in the Midwest was not statistically different from the rate a year ago.

New home sales

March 2015

-11.4%

February 2015

+5.6%
Sales of new single-family houses in March 2015 were at a seasonally adjusted annual rate of 481,000. This is 11.4 percent (+/- 18.6%)* below the revised February 2015 estimate of 543,000.
Source: U.S. CENSUS BUREAU

How much is your home worth? Get a real-time report on the value of your home. Start now

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.

Representing residential and commercial buyers and sellers in Ventura and LA Counties.
Disclaimer: The views, opinions, statements and/or ideas expressed in this Message Section do not reflect the ideas, policy, position, views or opinion of Move,Inc.

Consumer tips & hot properties

Image

Welcome to the New realtor.com!

We did a (virtual) gut reno, and we're psyched about our new and more beautiful site.

Read more
Image

The Walk-In Closet Is the New Outdoor Kitchen

Today's new-home buyers want more practical features: laundry rooms, Energy Star appliances, and–be still our beating hearts!–programmable thermostats. So long, sexy luxury features.

Read more
Image

So, You Started a Bidding War. How Do You Pick the Best Offer?

If your home gets multiple offers, don't just jump at the highest.

Read more
Image

Where Is It Much Cheaper to Buy Than Rent?

We crunched the numbers to pinpoint 10 American cities where owning a home really makes financial sense.

Read more
Image

A Plain English Guide to Avoiding the Most Common Mortgage Scams

Is a mortgage lender taking you for a ride? The government has issued new warnings to protect you.

Read more

Existing Home Statistics

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

Realtor in Thousand Oaks, Conejo Valley

I help people selling their homes get them sold quickly and almost always at 100% asking, even over in some markets. I save my real estate b...