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Weekly
National
Home Sales:
144,737 and Median Price: $169,900
(3/1/12)
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The number of homes sold in the Miami area in January dipped below the year-ago level as sub-$200,000 transactions fell, tugging down the region’s overall sales tally despite annual gains for mid- to high-end deals. The median sale price rose on a year-over-year basis for the first time in 52 months – just one of several indications of widening price stability...
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The number of homes sold in the Las Vegas area last month was the highest for a
January in five years thanks to robust sales below $200,000, and especially
under $100,000. The median price paid sank to its lowest point since April 1994
as distressed property sales made up two-thirds of all resale activity and
investor purchases reached a near-record level...
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An estimated 28,111 new and resale houses and condos were sold statewide last
month. That was down 25.5 percent from 37,734 in December, and up 1.5 percent
from 27,706 for January 2011. A decline from December to January is normal for
the season. On a year-over-year basis sales have increased the past six months.
California sales for the month of January have varied from a low of 19,145 in
2008 to a high of 47,138 in 2004, while the average is 31,717...
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Bay Area home sales rose last month to the highest level for the month of
January in five years, boosted by lower prices, ultra-low mortgage rates, a
modestly improved economy and a record level of investor purchases. The median
price paid for a home fell year-over-year for the 16th consecutive month as
“distressed” sales rose to the highest level since early last year...
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The Southland housing market started 2012 with slightly higher sales and
slightly lower prices despite record-low mortgage interest rates. Home sales
skewed toward the lower price ranges, which is normal for January, as many
traditional buyers retreated and investors snapped up homes at a record level...
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The number of California homes going into foreclosure dropped in the fourth
quarter of 2011 to the second-lowest level in more than four years, the result
of evolving lender and mortgage servicer policies as well as shifting market
conditions...
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The number of homes that resold in the Phoenix area rose above a year earlier
for the twelfth month in a row in November as activity increased across the
price spectrum. A variety of median sale price measures trended higher
month-to-month, and the region’s overall median sale price fell year-over-year
by less than 1 percent – the smallest dip since the median began to erode
consistently in summer 2010...
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The number of homes sold in the Denver region rose above the year-earlier level
for the third consecutive month in September, but the sales tally still ranked
as the second-lowest for that month in at least 13 years. The median sale price
fell slightly from both August and a year earlier as the level of investor and
cash buyers edged higher...
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The Portland-area’s housing market saw the typical dip in activity between
August and September but sales rose above a year earlier for the third
consecutive month. The median price paid in September was virtually unchanged
from August but fell below the year-ago level for the 10th consecutive month as
distressed property sales accounted for nearly one-third of all transactions...
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Seattle-area home sales shot up from a year earlier for the third consecutive
month in September amid especially robust sub-$200,000 sales. The median sale
price dropped year-over-year for the 14th consecutive month, to the lowest level
in seven years, as distressed property sales accounted for nearly half of the
resale market...
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While total U.S. home sales fell about 13.7 percent in the first half of this
year, activity declined less or even increased in many high-end zip codes....
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The share of borrowers using government-insured FHA home loans fell to its
lowest level in 27 months in February, based on an analysis of 20 large housing
markets nationwide. The trend likely reflects a combination of factors,
including tighter lending criteria for the low-down-payment loans...
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The share of Golden State homes purchased with cash rose to a record level last
month as investors and others took advantage of lower prices and less
competition during the market’s winter doldrums...
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While overall California home sales declined last year, the number that sold for
$1 million or more in 2010 rose for the first time in five years as certain
segments of the economy improved and high-end home shoppers went bargain
hunting...
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