table California Economic Outlook SOURCE CALIFORNIA ASSOCIATION OF
table California Economic Outlook
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® -54% * *Based on $248, 000 Median Price California vs. U. S. 2000 -2010 $ Volume of Sales At Plateau
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® California, August 2010: $318, 660, Up 8. 6% YTY Median Price of Existing Detached Homes
Unsold Inventory By Price Point
SOURCE: US Dept of Commerce Bureau of Economic Analysis Percentage of households that can buy 2010 Q 2 California 64% U. S. 78% 1 st Time Buyer Affordability: New Highs
California Buyers First-Time Buyer Share Remains High
Single-Family Detached vs. Condo/Townhome Condos Attractive for 1 st Time Buyers
SOURCE: Mortgage Bankers Association Delinquencies: Long Run Average: 4. 1% Foreclosure Rate: Long Run Average: 1. 0% CA Mortgage Foreclosure & Delinquency Rates
6 Month Average: NODs: 28, 405 NTSs: 31, 557 CA Foreclosure Filings
6 Month Average: REO: 13, 320 3 rd Party: 3, 689 Cancelled: 18, 260 Aug-10: 14, 369 REOs • 3, 472 Sold to 3 rd Party • 16, 828 Cancelled CA Foreclosure Outcomes
Annual Housing Market Survey June 2010
Share of Non-distressed Properties Up in 2010 Was the property purchased or sold as a foreclosure/R EO/short sale or none of the above
2010 More Short Sales Are Closing
Multiple Offers: Buyers Face Competitive Market of all homes purchased in 2010 had multiple offers
Fewer Properties Selling at a Discount Did Property Sell Below List?
All Cash Purchases Increase of all sales in 2010 were all cash
Long Run Average = 12% Buying for Investment/Tax Considerations
Sales to Investors Continue to Grow
Joe to update slide Top Reasons For Selling Home
Reasons Why Property Fell Out of Escrow
Foreign Buyers
2011 California Housing Market Outlook table
2011 OPPORTUNITIES: Housing Fundamentals Strong First-time Homebuyers Investors Long Time Owners International Buyers Technology Tools Get Involved in Politics/Issues
- Slides: 28