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Real Estate News
August , 16, 2005
Bubble what Bubble?
Naysayers have been projecting a burst in the so called real estate bubble.
Yet sales of existing homes continued at a strong pace in the second quarter-up 4.6%, while home prices were higher across most metropolitan areas, according to a survey. Breaking another record.
In Los Angeles, Median home values rose 8.3% to $474,800 in the metropolitan area during the second quarter from the year-earlier period, after rising 25.9% to $446,400 in 2004. While forclosures have dropped.
December 27,2004
"All of our numbers still look like the second-best year ever... But for the last three years, I've been projecting a second-best year ever and I've been wrong. It's been the best year ever."
David Lereah NAR President
According to Freddie Mac-The average rate for a 30-year fixed-rate loan in the past two years is 5.8 percent.
Oct 13, 2004
Bankrate.com reported that Long-term
mortgage interest rates were flat Monday, and the benchmark 10-year Treasury
bond yield stayed at 4.13 percent.
The 30-year fixed-rate average held at 5.38 percent, and the 15-year
fixed-rate remained at 4.79 percent. The 1-year adjustable was unchanged at
3.24 percent.
June 25, 2004
Housing Bubble,
What Housing Bubble?
May was another record breaking month say NAR and despite a slowdown in the 2nd half of the year NAR expect 2004 to be another record breaker.
In addition to new home construction, the study considers ongoing home sales, financing, brokerage, repairs and management, and operation of existing housing units as part of the overall housing industry in the state. While the report cites a demand in the state for about 230,000 new units per year, based on state Department of Finance estimates, the actual annual housing production has been closer to 188,000 units per year.
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