Year-End 2010 Real Estate Market Improves
1. The number of California homes going into foreclosure dropped again during the fourth quarter of 2010 to its lowest level in more than three years, the result of shifting market conditions as well as evolving lender and mortgage servicer policies.
2. Las Vegas region December home sales rose 16.4% from November but fell short of both a year ago and the historical average for the month. The share of homes bought by investors hit a new high as foreclosure resales and sub-$100,000 transactions rose, helping to drive down the median sale price.
3. A total of 8,706 new and resale houses and condos closed escrow during December in the Phoenix metropolitan area, an increase of 22.1% from November, and a 1.4 percent decline from a year earlier.
4. Miami area December home sales rose to a four-year high for that month thanks to robust condo sales. December sales increased 28.7% from November, and 4.2% from a year earlier.
5. December sales rose 21.8% in the Seattle area from November, but fell 4.6% from December 2009.
2 Comments:
Personally, I hope that you're right and that the housing market has bottomed. Others are skeptical:
At Calculated Risk, Tom Lawler, a real estate economist and former risk policy veep at Fannie Mae, tries to figure out how many people have actually lost their homes to foreclosure, short sales or deed-in-lieu desertions. The answer: Not enough. Lawler (who is now living the life of Riley on a Virginia farm) says the number of foreclosures that have been completed so far is a drop in the bucket compared to the number of loans that have gone bad ...
Coming Soon: A 300 Percent Increase In Foreclosures, Reason
Phoenix-area housing prices at new low, azcentral.com
Setting new lows three years into the housing crisis isn't a good sign.
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