California May Home Sales

June 14, 2012

An estimated 41,790 new and resale houses and condos sold statewide last month. That was up 9.3 percent from 38,241 in April, and up 17.6 percent from 35,536 in May 2011. Last month's sales were the highest for any May since 54,099 homes sold in May 2006.

Sales have increased on a year-over-year basis for the past 10 months. California sales for the month of May have varied from a low of 32,223 in 1995 to a high of 67,958 in 2004, while the average is 46,638. DataQuick's statistics go back to 1988.

The median price paid for a home in California last month was $270,000, up 2.3 percent from $264,000 in April, and up 8.4 percent from $249,000 in May 2011. Last month’s median was the highest for any month since June 2010, when it was also $270,000. Last month was the third month in a row to post a year-over-year gain in the state’s median sale price. For the current housing cycle, the median hit a trough of $221,000 in April 2009, while it peaked at $484,000 in early 2007.

Distressed property sales – the combination of foreclosure resales and “short sales” – made up 46.2 percent of the state’s resale market last month. It was the lowest level since the figure was also 46.2 percent in April 2008.

Of the existing homes sold in May, 28.3 percent were properties that had been foreclosed on during the past year. That was down from 30.3 percent in April and down from 35.3 percent a year ago. Last month’s figure was the lowest for any month since foreclosure resales made up 23.7 percent of the resale market in December 2007. California’s all-time high for foreclosure resales was 58.5 percent in February 2009.

Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 18.1 percent of the homes that resold last month. That was the same as the month before and up from 17.6 percent a year earlier.

The typical mortgage payment that home buyers committed themselves to paying last month was $1,006. That was up from $997 the prior month and down from $1,026 a year earlier. Adjusted for inflation, last month's typical payment was 55.9 percent below the 1989 peak of the prior real estate cycle, and 64.3 percent below the 2006 peak of the current cycle.

DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

Indicators of market distress continue to move in different directions. Foreclosure activity is high, but not increasing. Financing with multiple mortgages is low, down payment sizes are stable, and cash and non-owner-occupied buying remains at a high level, DataQuick reported.

Media calls: Andrew LePage (916)456-7157 or alepage@dqnews.com

Source: DataQuick; DQNews.com

Copyright DataQuick. All rights reserved.

California August Home Sales

September 11, 2014

Bay Area Home Sales Slow in August; Prices Increases Ease Back

September 11, 2014

Southland Home Sales Sputter; Median Sale Price Hits 80-Month High

September 11, 2014

Las Vegas Region July Home Sales

August 27, 2014

California July Home Sales

August 14, 2014

Sluggish Bay Area Home Sales in July; Prices Up – at a Slower Pace

August 14, 2014

Southland Home Sales Fall Yr/Yr Again; Prices Rise at Slower Pace

August 13, 2014

Las Vegas Region June Home Sales

August 8, 2014

Million-Dollar Home Sales Up Again in the Golden State

July 31, 2014

California Foreclosure Starts Lowest Since 2005

July 17, 2014

California June Home Sales

July 16, 2014

Bay Area Home Sales Up Slightly; Price Increases Slow

July 16, 2014

Southland Home Sales Down from Last Year Again; Price Gains Throttle Back

July 15, 2014

Seattle Region May Home Sales

July 1, 2014

Miami Region May Home Sales

June 30, 2014

Las Vegas Region May Home Sales

June 25, 2014

California May Home Sales

June 12, 2014

Bay Area Home Sales Constrained by Supply; Prices Continue to Rise

June 12, 2014

Southland Home Sales Slow; Median Price Rises Again but at Slower Pace

June 11, 2014

Portland Region April Home Sales

June 5, 2014

Phoenix Region February Home Sales

June 4, 2014

Las Vegas Region April Home Sales

May 28, 2014

California April Home Sales

May 14, 2014

Bay Area Home Prices Continue to Rise; Sales Up from March, Flat Yr/Yr

May 14, 2014

Faster Pace for Southland Home Sales; Median Sale Price Edges Higher

May 13, 2014

Seattle Region March Home Sales

May 9, 2014

Miami Region March Home Sales

May 7, 2014

Las Vegas Region March Home Sales

April 29, 2014

California Foreclosure Starts Hover Near 8-Year Low

April 22, 2014

California March Home Sales

April 16, 2014

Bay Area Median Sale Price Highest Since 2007; Slowest March Sales in 6 Years

April 16, 2014

Southland Home Sales Stuck at 6-year Low; Median Price Rises to 6-Year High

April 15, 2014

Phoenix Region February Home Sales

April 1, 2014

Las Vegas Region February Home Sales

March 27, 2014

California February Home Sales

March 13, 2014

Bay Area home sales slowest since 2008

March 13, 2014

Southern California February Home Sales Lowest Since 2008

March 12, 2014

Portland Region January Home Sales

March 6, 2013

Seattle Region January Home Sales

March 4, 2014

Miami Region January Home Sales

January 27, 2014

Las Vegas Region January Home Sales

February 25, 2014

California January Home Sales

February 13, 2014

Bay Area Home Sales Slowest for a January Since 2008

February 13, 2014

Southland Home Sales Drop in January; Price Picture Mixed

February 12, 2014

Las Vegas Region December Home Sales

February 7, 2014

Million-Dollar Home Sales Jump in the Golden State

January 30, 2014

California Foreclosure Starts Dip to Eight-Year Low

January 21, 2014

California December Home Sales

January 15, 2014

Bay Area Home Sales Drop to Six-Year Low; Prices Still Up Sharply Yr/Yr

January 15, 2014

Southland December Home Sales at Six-Year Low; Median Price Jumps

January 14, 2014

Portland Region November Home Sales

January 9, 2014

Seattle Region November Home Sales

January 2, 2014