Prices
Resale Homes +7.8%, Resale Condos +12.9% and New Home Sales +20.9%
Sales Volume
Resale Homes -16.5%, Resale Condos -11.5% and New Home Sales +45.5%
Facts
Medium Price is $570,000 up from $520,000 a year ago
Sales Volume is down to 3,027 versus 3,358 a year ago
Average Home Payment is $2,640.29
Inventory is up 6,369 up from 5,852 just one month ago
Mortgage Defaults, 422, up 19.5% versus one year ago
Foreclosures, 108, down 38.6% versus one year ago
Average Days on Market 2.17 months (66 days)
Interest Rates
30 year fixed Mortgage rate is currently 4.29% down slightly from last week
15 year fixed rate is 3.38% down slightly versus one week ago
Mortgage lending declined to its lowest level in 14 years (Q1 2014)
Trends
Home ownership at its lowest point in 19 years (64.8%)
Highest price increase; Dana Point, 92629, +78.0% VLY
2nd Highest price increase; Newport Beach, 92663, +56.5% VLY
3rd Highest price increase; Villa Park, 92861, +56.3% VLY
OC/LA homes prices up 18.2% versus last year
New home pricing and volume are rising
Million dollar inventory is 27.8% of all OC listings
NAR reports the West is down 8.1% in sales due to low inventory
NAR reports the Northeast +7.1, Midwest +2% and the South +3.6%
Sales Volume
Resale Homes -16.5%, Resale Condos -11.5% and New Home Sales +45.5%
Facts
Medium Price is $570,000 up from $520,000 a year ago
Sales Volume is down to 3,027 versus 3,358 a year ago
Average Home Payment is $2,640.29
Inventory is up 6,369 up from 5,852 just one month ago
Mortgage Defaults, 422, up 19.5% versus one year ago
Foreclosures, 108, down 38.6% versus one year ago
Average Days on Market 2.17 months (66 days)
Interest Rates
30 year fixed Mortgage rate is currently 4.29% down slightly from last week
15 year fixed rate is 3.38% down slightly versus one week ago
Mortgage lending declined to its lowest level in 14 years (Q1 2014)
Trends
Home ownership at its lowest point in 19 years (64.8%)
Highest price increase; Dana Point, 92629, +78.0% VLY
2nd Highest price increase; Newport Beach, 92663, +56.5% VLY
3rd Highest price increase; Villa Park, 92861, +56.3% VLY
OC/LA homes prices up 18.2% versus last year
New home pricing and volume are rising
Million dollar inventory is 27.8% of all OC listings
NAR reports the West is down 8.1% in sales due to low inventory
NAR reports the Northeast +7.1, Midwest +2% and the South +3.6%
Now that we are heading into summer, the buyers are out and interest rates are still low. If you are thinking about selling or buying a home, you can't afford not to call me first. JoSal 714.612.6446
