December 23, 2009
Economy Improving in 4th Quarter
The economy grew 2.2 percent in the third quarter. The U.S. Commerce Department had previously estimated a 2.8 percent growth rate. Officials attributed the discrepancy to consumer caution, saying that consumers simply didn’t spend as much.
Many analysts still believe the economy is likely to improve in the current quarter, growing at an estimated 4 percent, or perhaps, even 5 percent. Fourth quarter results will be released Jan. 29.
Companies stocking depleted inventories will drive fourth-quarter growth, but the results will continue to reflect consumer caution. "We expect a better performance in the fourth quarter, but the core problems for the economy – bust banks and a massively overleveraged consumer – have not gone away," says Ian Shepherdson, chief economist at High Frequency Economics.
Source: Associated Press, Jeannine Aversa (12/22/2009
Thursday, December 24, 2009
Friday, December 18, 2009
Home prices jumped 8.1% in November
Nov. home sales up in 56 O.C. ZIPs
December 15th, 2009, 11:11 am · posted by Jon Lansner, OC register
For calendar month November – DataQuick’s freshest stats — Orange County homebuying patterns showed:
41 of O.C.’s 83 ZIP codes had gains in their respective median selling price. Overall, prices were +8.1% vs. a year ago.
6 of 83 O.C. ZIPs had median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007.
Since that pricing pinnacle, there’s been a -33% drop in the countywide median price!
56 of 83 O.C. ZIPs had year-over-year sales gains in the period.
Overall, countywide sales were +16.1% vs. a year ago.
17 of 83 O.C. ZIPs has sales gains of 100% or more in the period.
NOTE! 25 local ZIPs had both sales gains and price gains in the period.
Here’s a look at the 83 ZIPs and how they fared in terms of median selling price and total sales for this period:
Town ZIP Price Yr. chg. Sales Yr. chg.
Aliso Viejo 92656 $405,000 +3.8% 92 +41.5%
Anaheim 92801 $300,500 -0.7% 46 -17.9%
Anaheim 92802 $375,000 +13.8% 15 -25.0%
Anaheim 92804 $350,000 +3.6% 44 -22.8%
Anaheim 92805 $355,000 +8.2% 35 -34.0%
Anaheim 92806 $370,000 -7.5% 17 -22.7%
Anaheim 92807 $472,500 -2.4% 36 +33.3%
Anaheim 92808 $485,000 -6.2% 30 +150.0%
Brea 92821 $465,000 +9.4% 26 +73.3%
Brea 92823 $558,500 +2.5% 4 +300.0%
Buena Park 90620 $385,000 +3.2% 42 -12.5%
Buena Park 90621 $355,500 +1.6% 21 -4.5%
Corona del Mar 92625 $1,500,000 -50.0% 8 -11.1%
Costa Mesa 92626 $485,000 -4.7% 34 +36.0%
Costa Mesa 92627 $490,000 -0.7% 30 +7.1%
Cypress 90630 $465,000 +10.7% 41 +46.4%
Dana Point 92624 $665,000 +22.6% 8 +300.0%
Dana Point 92629 $545,000 -22.7% 26 +116.7%
Foothill Ranch 92610 $262,500 -38.6% 18 +50.0%
Fountain Valley 92708 $602,000 +18.0% 48 +128.6%
Fullerton 92831 $380,000 -5.6% 29 +107.1%
Fullerton 92832 $285,000 -27.8% 16 +14.3%
Fullerton 92833 $365,000 -4.8% 44 +69.2%
Fullerton 92835 $505,000 -11.3% 16 +14.3%
Garden Grove 92840 $311,000 -5.8% 31 -29.5%
Garden Grove 92841 $395,000 +12.9% 27 +22.7%
Garden Grove 92843 $360,000 +12.5% 19 -17.4%
Garden Grove 92844 $265,000 -20.3% 21 +75.0%
Garden Grove 92845 $462,500 +9.5% 10 +11.1%
Huntington Beach 92646 $560,000 +14.3% 52 +85.7%
Huntington Beach 92647 $525,000 +7.1% 23 -11.5%
Huntington Beach 92648 $608,000 -16.6% 38 +15.2%
Huntington Beach 92649 $685,000 +24.5% 22 +37.5%
Irvine 92602 $645,000 -2.3% 28 +115.4%
Irvine 92603 $708,000 -24.8% 21 +50.0%
Irvine 92604 $525,000 -13.9% 22 +214.3%
Irvine 92606 $475,000 -1.0% 13 +44.4%
Irvine 92612 $379,000 -53.4% 23 +91.7%
Irvine 92614 $450,000 +5.3% 25 +108.3%
Irvine 92618 $707,500 -4.8% 34 +126.7%
Irvine 92620 $582,500 -6.8% 38 +18.8%
Ladera Ranch 92694 $632,500 -4.2% 44 +18.9%
La Habra 90631 $320,000 +9.2% 51 +15.9%
La Palma 90623 $495,000 -9.2% 5 -37.5%
Laguna Beach 92651 $1,035,000 +11.3% 34 +142.9%
Laguna Hills 92653 $500,000 +38.9% 26 +0.0%
Laguna Niguel 92677 $544,500 +1.6% 76 +68.9%
Laguna Woods 92637 $212,500 -12.2% 28 +211.1%
Lake Forest 92630 $357,500 +25.6% 56 +1.8%
Los Alamitos 90720 $695,000 -0.7% 11 +57.1%
Midway City 92655 n/a n/a n/a n/a
Mission Viejo 92691 $481,000 +20.3% 42 -8.7%
Mission Viejo 92692 $472,000 -1.7% 47 +30.6%
Newport Beach 92660 $1,061,250 -11.6% 33 +175.0%
Newport Beach 92661 $1,950,000 -43.5% 4 +33.3%
Newport Beach 92662 $1,650,000 n/a 1 n/a
Newport Beach 92663 $810,000 +44.6% 18 +260.0%
Newport Coast 92657 $1,535,000 +22.8% 20 +122.2%
Orange 92865 $473,750 +14.0% 26 -31.6%
Orange 92866 $535,000 +84.5% 5 +0.0%
Orange 92867 $512,500 +13.3% 31 +34.8%
Orange 92868 $305,000 -18.8% 11 -42.1%
Orange 92869 $445,000 -0.1% 32 +14.3%
Placentia 92870 $460,000 +6.4% 38 -15.6%
Ran.S. Margarita 92688 $351,000 -5.1% 61 +24.5%
San Clemente 92672 $476,000 -9.8% 26 +30.0%
San Clemente 92673 $600,000 -4.8% 39 +21.9%
San Juan Capo 92675 $265,000 -5.3% 36 +2.9%
Santa Ana 92701 $146,000 -10.7% 34 -22.7%
Santa Ana 92703 $245,000 +2.1% 28 -41.7%
Santa Ana 92704 $260,000 -10.3% 63 -13.7%
Santa Ana 92705 $551,250 +28.2% 44 +63.0%
Santa Ana 92706 $353,000 +0.9% 36 +0.0%
Santa Ana 92707 $251,000 +4.6% 39 -29.1%
Seal Beach 90740 $720,000 +1.4% 16 +128.6%
Stanton 90680 $320,500 +42.4% 20 +5.3%
Trabuco/Coto 92679 $677,500 +10.2% 35 +84.2%
Tustin 92780 $390,000 +50.0% 33 -23.3%
Tustin 92782 $616,000 -3.2% 40 -33.3%
Villa Park 92861 $780,000 -42.2% 4 +300.0%
Westminster 92683 $447,500 +10.8% 55 +27.9%
Yorba Linda 92886 $594,500 +1.8% 66 +26.9%
Yorba Linda 92887 $555,000 +15.6% 21 +61.5%
Total O.C. $432,500 +8.1% 2,528 +16.1%
Posted in: Selling patterns • DataQuick • numbers • ZIPs
December 15th, 2009, 11:11 am · posted by Jon Lansner, OC register
For calendar month November – DataQuick’s freshest stats — Orange County homebuying patterns showed:
41 of O.C.’s 83 ZIP codes had gains in their respective median selling price. Overall, prices were +8.1% vs. a year ago.
6 of 83 O.C. ZIPs had median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007.
Since that pricing pinnacle, there’s been a -33% drop in the countywide median price!
56 of 83 O.C. ZIPs had year-over-year sales gains in the period.
Overall, countywide sales were +16.1% vs. a year ago.
17 of 83 O.C. ZIPs has sales gains of 100% or more in the period.
NOTE! 25 local ZIPs had both sales gains and price gains in the period.
Here’s a look at the 83 ZIPs and how they fared in terms of median selling price and total sales for this period:
Town ZIP Price Yr. chg. Sales Yr. chg.
Aliso Viejo 92656 $405,000 +3.8% 92 +41.5%
Anaheim 92801 $300,500 -0.7% 46 -17.9%
Anaheim 92802 $375,000 +13.8% 15 -25.0%
Anaheim 92804 $350,000 +3.6% 44 -22.8%
Anaheim 92805 $355,000 +8.2% 35 -34.0%
Anaheim 92806 $370,000 -7.5% 17 -22.7%
Anaheim 92807 $472,500 -2.4% 36 +33.3%
Anaheim 92808 $485,000 -6.2% 30 +150.0%
Brea 92821 $465,000 +9.4% 26 +73.3%
Brea 92823 $558,500 +2.5% 4 +300.0%
Buena Park 90620 $385,000 +3.2% 42 -12.5%
Buena Park 90621 $355,500 +1.6% 21 -4.5%
Corona del Mar 92625 $1,500,000 -50.0% 8 -11.1%
Costa Mesa 92626 $485,000 -4.7% 34 +36.0%
Costa Mesa 92627 $490,000 -0.7% 30 +7.1%
Cypress 90630 $465,000 +10.7% 41 +46.4%
Dana Point 92624 $665,000 +22.6% 8 +300.0%
Dana Point 92629 $545,000 -22.7% 26 +116.7%
Foothill Ranch 92610 $262,500 -38.6% 18 +50.0%
Fountain Valley 92708 $602,000 +18.0% 48 +128.6%
Fullerton 92831 $380,000 -5.6% 29 +107.1%
Fullerton 92832 $285,000 -27.8% 16 +14.3%
Fullerton 92833 $365,000 -4.8% 44 +69.2%
Fullerton 92835 $505,000 -11.3% 16 +14.3%
Garden Grove 92840 $311,000 -5.8% 31 -29.5%
Garden Grove 92841 $395,000 +12.9% 27 +22.7%
Garden Grove 92843 $360,000 +12.5% 19 -17.4%
Garden Grove 92844 $265,000 -20.3% 21 +75.0%
Garden Grove 92845 $462,500 +9.5% 10 +11.1%
Huntington Beach 92646 $560,000 +14.3% 52 +85.7%
Huntington Beach 92647 $525,000 +7.1% 23 -11.5%
Huntington Beach 92648 $608,000 -16.6% 38 +15.2%
Huntington Beach 92649 $685,000 +24.5% 22 +37.5%
Irvine 92602 $645,000 -2.3% 28 +115.4%
Irvine 92603 $708,000 -24.8% 21 +50.0%
Irvine 92604 $525,000 -13.9% 22 +214.3%
Irvine 92606 $475,000 -1.0% 13 +44.4%
Irvine 92612 $379,000 -53.4% 23 +91.7%
Irvine 92614 $450,000 +5.3% 25 +108.3%
Irvine 92618 $707,500 -4.8% 34 +126.7%
Irvine 92620 $582,500 -6.8% 38 +18.8%
Ladera Ranch 92694 $632,500 -4.2% 44 +18.9%
La Habra 90631 $320,000 +9.2% 51 +15.9%
La Palma 90623 $495,000 -9.2% 5 -37.5%
Laguna Beach 92651 $1,035,000 +11.3% 34 +142.9%
Laguna Hills 92653 $500,000 +38.9% 26 +0.0%
Laguna Niguel 92677 $544,500 +1.6% 76 +68.9%
Laguna Woods 92637 $212,500 -12.2% 28 +211.1%
Lake Forest 92630 $357,500 +25.6% 56 +1.8%
Los Alamitos 90720 $695,000 -0.7% 11 +57.1%
Midway City 92655 n/a n/a n/a n/a
Mission Viejo 92691 $481,000 +20.3% 42 -8.7%
Mission Viejo 92692 $472,000 -1.7% 47 +30.6%
Newport Beach 92660 $1,061,250 -11.6% 33 +175.0%
Newport Beach 92661 $1,950,000 -43.5% 4 +33.3%
Newport Beach 92662 $1,650,000 n/a 1 n/a
Newport Beach 92663 $810,000 +44.6% 18 +260.0%
Newport Coast 92657 $1,535,000 +22.8% 20 +122.2%
Orange 92865 $473,750 +14.0% 26 -31.6%
Orange 92866 $535,000 +84.5% 5 +0.0%
Orange 92867 $512,500 +13.3% 31 +34.8%
Orange 92868 $305,000 -18.8% 11 -42.1%
Orange 92869 $445,000 -0.1% 32 +14.3%
Placentia 92870 $460,000 +6.4% 38 -15.6%
Ran.S. Margarita 92688 $351,000 -5.1% 61 +24.5%
San Clemente 92672 $476,000 -9.8% 26 +30.0%
San Clemente 92673 $600,000 -4.8% 39 +21.9%
San Juan Capo 92675 $265,000 -5.3% 36 +2.9%
Santa Ana 92701 $146,000 -10.7% 34 -22.7%
Santa Ana 92703 $245,000 +2.1% 28 -41.7%
Santa Ana 92704 $260,000 -10.3% 63 -13.7%
Santa Ana 92705 $551,250 +28.2% 44 +63.0%
Santa Ana 92706 $353,000 +0.9% 36 +0.0%
Santa Ana 92707 $251,000 +4.6% 39 -29.1%
Seal Beach 90740 $720,000 +1.4% 16 +128.6%
Stanton 90680 $320,500 +42.4% 20 +5.3%
Trabuco/Coto 92679 $677,500 +10.2% 35 +84.2%
Tustin 92780 $390,000 +50.0% 33 -23.3%
Tustin 92782 $616,000 -3.2% 40 -33.3%
Villa Park 92861 $780,000 -42.2% 4 +300.0%
Westminster 92683 $447,500 +10.8% 55 +27.9%
Yorba Linda 92886 $594,500 +1.8% 66 +26.9%
Yorba Linda 92887 $555,000 +15.6% 21 +61.5%
Total O.C. $432,500 +8.1% 2,528 +16.1%
Posted in: Selling patterns • DataQuick • numbers • ZIPs
California Home Sales
California home sales, prices improve in November
The median cost in the state rises to $261,000, a 1.6% increase from the month before and up 1.2% from November 2008. Sales climb 11.5% compared with a year earlier.
By Alejandro Lazo
December 18, 2009
California home prices and sales showed steady improvement during the typically slow month of November, fresh data released Thursday showed, with the San Francisco area outpacing Southern California.
The state's median home price in November was $261,000, a 1.6% increase from the month before and up 1.2% from November 2008. The statewide year-over-year increase was the first since July 2007.
The increase reflected an overall improvement in the housing market, with fewer foreclosures making up the total mix of homes for resale and an overall bounce back from the severely depressed prices seen in 2008, according to MDA DataQuick, a San Diego research firm that closely tracks California's housing market.
"We have been in the middle of a kind of mini recovery in California," said Gerd-Ulf Krueger, principal economist and founder of HousingEcon.com. "It looks like the housing market, at least for now, has bottomed."
Home sales were up 11.5% statewide in November compared with a year earlier, though down 13.1% from October. A decline in sales between October and November is typical as the slower fall season kicks in. An estimated 35,860 homes were sold statewide last month, DataQuick said.
Of the previously owned homes sold in November, 40.6% had been foreclosed on during the last year. That is the lowest percentage since May 2008, when the figure was 39.8%. Foreclosure sales peaked at 58.8% in February 2008.
Many experts fear that a second wave of foreclosures could hit the market next year, putting pressure on prices. And the long-term housing picture is unclear, DataQuick President John Walsh said in a statement Thursday.
"A lot of people sense lenders are holding back and that there's at least one more round of foreclosures lurking around the corner," Walsh said. "Combine that with less government stimulus in 2010, and it would threaten whatever price stability we see now."
In the San Francisco Bay Area, the median price paid for a home was $387,000 in November. That was a 10.6% increase from November 2008 but a 0.8% decline from October of this year. The year-over-year uptick was significant as it was the second month in a row that the median price paid for a home in the Bay Area increased on that basis.
The median price paid for a Southern California home increased 1.8% in November from October, to $285,000, and was flat compared with November 2008, according to a DataQuick report released Tuesday.
Copyright © 2009, The Los Angeles Times
The median cost in the state rises to $261,000, a 1.6% increase from the month before and up 1.2% from November 2008. Sales climb 11.5% compared with a year earlier.
By Alejandro Lazo
December 18, 2009
California home prices and sales showed steady improvement during the typically slow month of November, fresh data released Thursday showed, with the San Francisco area outpacing Southern California.
The state's median home price in November was $261,000, a 1.6% increase from the month before and up 1.2% from November 2008. The statewide year-over-year increase was the first since July 2007.
The increase reflected an overall improvement in the housing market, with fewer foreclosures making up the total mix of homes for resale and an overall bounce back from the severely depressed prices seen in 2008, according to MDA DataQuick, a San Diego research firm that closely tracks California's housing market.
"We have been in the middle of a kind of mini recovery in California," said Gerd-Ulf Krueger, principal economist and founder of HousingEcon.com. "It looks like the housing market, at least for now, has bottomed."
Home sales were up 11.5% statewide in November compared with a year earlier, though down 13.1% from October. A decline in sales between October and November is typical as the slower fall season kicks in. An estimated 35,860 homes were sold statewide last month, DataQuick said.
Of the previously owned homes sold in November, 40.6% had been foreclosed on during the last year. That is the lowest percentage since May 2008, when the figure was 39.8%. Foreclosure sales peaked at 58.8% in February 2008.
Many experts fear that a second wave of foreclosures could hit the market next year, putting pressure on prices. And the long-term housing picture is unclear, DataQuick President John Walsh said in a statement Thursday.
"A lot of people sense lenders are holding back and that there's at least one more round of foreclosures lurking around the corner," Walsh said. "Combine that with less government stimulus in 2010, and it would threaten whatever price stability we see now."
In the San Francisco Bay Area, the median price paid for a home was $387,000 in November. That was a 10.6% increase from November 2008 but a 0.8% decline from October of this year. The year-over-year uptick was significant as it was the second month in a row that the median price paid for a home in the Bay Area increased on that basis.
The median price paid for a Southern California home increased 1.8% in November from October, to $285,000, and was flat compared with November 2008, according to a DataQuick report released Tuesday.
Copyright © 2009, The Los Angeles Times
Sunday, December 6, 2009
O.C. home sales rising 11.6%
December 5th, 2009-- Posted by Jon Lansner, OC Register
A late-year homebuying surge emerges, perhaps a push created by a once-looming, federal-tax incentive deadline that was eventually extended to April.
For the 22 business days ending Nov. 12 – DataQuick’s latest homebuying report — Orange County saw sales go up.
Slice Price Yr. ago Sales Yr. ago
Houses $499,000 +7.3% 1,894 +11.3%
Condos $295,000 +5.4% 832 +12.0%
New $545,000 +8.5% 171 +12.5%
All O.C. $430,000 +3.6% 2,897 +11.6%
$430,000 median selling price that is +3.6% vs. a year ago and -33% below June 2007’s peak of $645,000.
The most recent median is 16% above the cyclical low hit in January 2009 at $370,000 — a current bottom that was -43% below the peak.
Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)
Single-family homes resell for 32% less than their peak pricing (June ‘07) while condos sell 37% below their peak in March 2006. Builder prices for new homes are 37% below their February ‘05 top.
In this most recent period, O.C. shoppers bought 2,897 residences — that is +11.6% vs. year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)
September was 15th straight month of sales gains vs. the year-ago period. That follows 33 consecutive months where sales failed to beat the previous year’s pace.
For what has happened in Laguna Beach and elsewhere, give me a call at 949-275-5900
A late-year homebuying surge emerges, perhaps a push created by a once-looming, federal-tax incentive deadline that was eventually extended to April.
For the 22 business days ending Nov. 12 – DataQuick’s latest homebuying report — Orange County saw sales go up.
Slice Price Yr. ago Sales Yr. ago
Houses $499,000 +7.3% 1,894 +11.3%
Condos $295,000 +5.4% 832 +12.0%
New $545,000 +8.5% 171 +12.5%
All O.C. $430,000 +3.6% 2,897 +11.6%
$430,000 median selling price that is +3.6% vs. a year ago and -33% below June 2007’s peak of $645,000.
The most recent median is 16% above the cyclical low hit in January 2009 at $370,000 — a current bottom that was -43% below the peak.
Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)
Single-family homes resell for 32% less than their peak pricing (June ‘07) while condos sell 37% below their peak in March 2006. Builder prices for new homes are 37% below their February ‘05 top.
In this most recent period, O.C. shoppers bought 2,897 residences — that is +11.6% vs. year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)
September was 15th straight month of sales gains vs. the year-ago period. That follows 33 consecutive months where sales failed to beat the previous year’s pace.
For what has happened in Laguna Beach and elsewhere, give me a call at 949-275-5900
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