Sunday, June 15, 2008
NEW YORK - The housing crisis went worst this May, as more than 73,000 American families lost their houses to bank repossessions, up a staggering 158% from the 28,548 households which were dispossessed in May 2007. Foreclosure filings of all types, including default notices, bank repossessions and notices of sheriff's sales were up 48% since May 2007, according to the latest release from an online marketer of foreclosed properties. Filings have increased to 7% since April.
"May was the 29th straight month we've seen a year-over-year increase," according to the online marketer. The report follows months of increasingly gloomy housing market conditions with house prices, existing home sales and new housing starts all plummeting. It is also known that there is a record of 14.1% decline in national home prices for the 12 months ending March 31; while April's existing house sales were down 17.5% year over year.
"May was the 29th straight month we've seen a year-over-year increase," according to the online marketer. The report follows months of increasingly gloomy housing market conditions with house prices, existing home sales and new housing starts all plummeting. It is also known that there is a record of 14.1% decline in national home prices for the 12 months ending March 31; while April's existing house sales were down 17.5% year over year.
posted by We buy houses, Stop foreclosure
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Wednesday, June 4, 2008
SAN DIEGO - Home sales surged 22 percent in April in Southern California as bargain hunters bought lower-end houses in areas were hit hardest by foreclosures, according to a firm's research. Sales of new and resale homes and condos reached 15,615 in April, up from 12,808 in March and the highest monthly total since August.
The monthly increase of 22 percent in the six-county region is well above the average gain of only 1.2 percent from March to April, homes under $500,000 accounted for two-thirds of the monthly gain and Riverside County, the firm calls the 'epicenter' of foreclosures and price declines in Southern California, posted the region's only annual sales increase, its first in two years.
April's median home price in Southern California was $385,000, down 24 percent from $505,000 in April 2007. Despite the sales surge since March, April sales were down 19 percent from 19,269 in the same period last year, marking the weakest April tally since 1995. "We continue to look for evidence of a sales bounce in the mid-priced and higher-end markets along the coast," the firm's president said.
The monthly increase of 22 percent in the six-county region is well above the average gain of only 1.2 percent from March to April, homes under $500,000 accounted for two-thirds of the monthly gain and Riverside County, the firm calls the 'epicenter' of foreclosures and price declines in Southern California, posted the region's only annual sales increase, its first in two years.
April's median home price in Southern California was $385,000, down 24 percent from $505,000 in April 2007. Despite the sales surge since March, April sales were down 19 percent from 19,269 in the same period last year, marking the weakest April tally since 1995. "We continue to look for evidence of a sales bounce in the mid-priced and higher-end markets along the coast," the firm's president said.
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