RE/MAX Lakeside sells Lake Arrowhead Real Estate

According to the California Association of Realtors; California’s New Home Market Breaks into Positive territory

•· Survey finds most agents see home prices stabilizing

•· California new home sales rise 25%

•· Foreclosure activity declines 8% nationwide

Survey finds most agents see home prices stabilizing

According to the recent survey, Home Gain members said that 37 percent of home buyers believe that homes for sale are fairly priced or under priced compared with 36 percent in the third quarter. Conversely, 41 percent of homeowners think their homes should be listed 10 percent to 20 percent higher than what their agents recommend, up from 38 percent in the third quarter.

The first-time home buyer tax credit has helped drive sales, with 21 percent of respondents saying half of their transactions involved a first-time home buyer, with only 11 percent noting that none of their transactions involved a first-time home buyer.for more info

California new-home sales rise 25 percent
Sales in new-home communities of 10 units or more in California rose 25 percent in October compared with a year ago, according to the monthly California Building Industry Association (CBIA)/Hanley Wood Market Intelligence report. The increase marked the first year-to-year sales appreciation since December 2006, according to CBIA. Sales of single-family homes increased 4 percent, while sales of town homes and multiple-unit homes rose 36 percent. Condominium sales increased 94 percent compared with a year ago, according to the report.
“While this month’s figures are encouraging, we must keep in mind that we’re comparing the figures to October of 2008, which was the second lowest month of nominal sales we’ve seen during the downturn,” said Jonathan Dienhart, director of published research for Hanley Wood Market Intelligence. for more info

Foreclosure activity declines 8 percent nationwide

California posted the nation’s third highest foreclosure rate, with one in every 180 housing units receiving a foreclosure filing in November. Despite a 13-percent decrease in foreclosure activity from the previous month, California continued to post the highest total of any state, with 73,995 properties receiving a foreclosure filing in November. Foreclosures in California rose 22 percent from November 2008, but were down nearly 32 percent from a July peak of 108,104. November marked the fourth consecutive month that California foreclosure activity has declined on a month-over-month basis. for more info