Headlines about rising home prices dominate this week's round up of real estate news. Orange County home prices are up 16 percent from this time last year, March home prices in Los Angeles and Orange County were up 16.6 percent, and on top of that, home prices appear to be rising across the country. Needless to say, it's a great time for sellers.
Prices and Sales Volume for 22 Business Days Ending May 16
Prices Resale Homes up 26.8% New Homes up 16.5% Resale Condos up 27.7%
Sales Volume Resale Homes up 7.3% New Homes up 97.8% Resale Condos up 2%
Median Price $547,000 up from $420,750 a year ago Sales Volume 3,469 up from 3,164 a year ago
-ORANGE COUNTY REGISTER REAL ESTATE SECTION 6/2/2013
4,300 Local Borrowers Facing Foreclosure
Just over 4,300 Orange County homes were in some stage of the foreclosure process in April, fewer than half of the number facing foreclosure a year earlier. Lenders seized 3,297 Orange County homes through foreclosure during the 12 months ending in April.
-ORANGE COUNTY REGISTER REAL ESTATE SECTION 6/2/2013
Investors Stop Buying Rentals
Rising home prices reduces profit potential for investors. Now with house prices climbing at the fastest pace in seven years and investors swamping the rental market it no longer makes sense to be a buyer. Investors just don’t see the returns that are adequate to incentivize the investor to continue to invest.
-ORANGE COUNTY REGISTER REAL ESTATE SECTION 6/2/2013
O.C. Housing Prices Up At Least 16% Since Spring 2012
Prices are rising in part because homes for sale are in short supply, and buyers and investors are bidding up prices
-ORANGE COUNTY REGISTER REAL ESTATE SECTION 6/2/2013
March Home Prices Up 16.6% In Los Angeles And Orange County
It was the region’s ninth consecutive month of year-over-year price gains. Orange County home prices increased 17.2%
-Jeff Collins, ORANGE COUNTY REGISTER BUSINESS SECTION 5/29/2013
Women Are Better With Credit
Women use credit more wisely than men and have a higher score according to Experian. Women also carry less debt when it comes to revolving credit and men are 7.5% more late on their mortgage payments than women.
-Kevin Sabian, ORANGE COUNTY REGISTER BUSINESS SECTION 5/29/2013
Home Price Gains Propel U.S. Stocks
A rebound in the housing market fuels optimism about the economic recovery.
-LOS ANGELES TIMES BUSINESS SECTION 5/29/2013
O.C. Bankruptcy Filings Fall 24% In April
Regional figures also reflect uptick in economy
-ORANGE COUNTY REGISTER REAL ESTATE SECTION 5/28/2013
Latest Data Show Home Prices Rising Nationwide
All but nine of 100 areas with more than 500 sales in three months show gains.
-LOS ANGELES TIMES BUSINESS SECTION 5/26/2013
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