California to offer program to trim underwater mortgages
June 24th, 2010 - Lots of people will want to get in on this one: California is going to use federal money to pay down the mortgages of struggling homeowners.

Deeds-in-lieu gain favor with lenders as alternative to foreclosure
June 27th, 2010 - Short sales have been the hot solution for financially stressed homeowners and their lenders for the last year, but there’s another potent foreclosure alternative that’s about to take center stage: Deeds-in-lieu.

Fannie Mae increases penalties for strategic defaulters
June 23rd, 2010 - Fannie Mae recently announced policy changes designed to encourage borrowers to work with their loan servicers and pursue alternatives to foreclosure. Under the new policies, borrowers who strategically default on their home loan despite having the capacity to pay and those who do not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure. Borrowers who have extenuating circumstances may be eligible for new loan in a shorter timeframe.

California median home price, home sales rise in May
June 22nd, 2010 - Home sales increased 1.2 percent in May in California compared with the same period a year ago, while the median price of an existing home rose 23.2 percent, C.A.R. reported yesterday.

Homes sales up 18% in Bay Area
June 18th, 2010 - Bay Area home sales in May increased by 18 percent from the previous month, but sales fell in many affordable inland areas in the region due to a dwindling inventory of low-cost foreclosures, according to the real estate information service MDA DataQuick.

Mortgage rates and a choice buy, refinance or wait?
May 27th, 2010 - With mortgage rates again nearing their 50-year low, would-be buyers and homeowners have to make a choice: Buy or refinance now and lock in the rate; wait and hope rates sink even lower.

After foreclosure: How long until you can buy again?
May 28th, 2010 - Financing a home after foreclosure is possible for most homeowners. Those who default on their mortgages due to economic hardships, such as job loss, may receive approval for another mortgage in as little as two years, while it may take more than seven years for strategic defaulters to be approved.

California median home price increases, sales decrease in April
May 24th, 2010 - Home sales decreased 8.1 percent in April in California compared with the same period a year ago, while the median price of an existing home rose 21 percent, according to C.A.R.'s April sales and price report.

Nationwide home prices rise in March
May 25th, 2010 - The 10-City and 20-City Composites tracked as part of the S&P/Case-Shiller Home Price Indices rose in March. The 10-City Composite rose 3.1 percent in March compared with a year ago, and the 20-City Composite increased 2.3 percent compared with March 2009.

Consumer confidence rises in May
May 25th, 2010 - The Consumer Confidence Index rose to 63.3 in May (1985=100) compared with 57.7 in April, the Conference Board reported yesterday. The Present Situation Index increased to 30.2 in May from 28.1 in April, and the Expectations Index improved to 85.3 from 77.4 last month, according to the report.

Builder confidence rises three points in May
May 17th, 2010 - Builder confidence in the market for newly built, single-family homes gained three points in May, rising to 22-its highest point since August 2007-according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

Housing starts rise 5.8 percent in April
May 18th, 2010 - Housing starts increased 5.8 percent nationwide in April and permits for new housing units declined 11.5 percent, the Commerce Dept. reported yesterday. Housing permits and housing starts have risen 15.9 percent and 40.9 percent, respectively, over the last 12 months.

Foreclosure cancellations continue to rise
May 17th, 2010 - Foreclosure cancellations have risen more than 32 percent since the beginning of 2009, according to ForeclosureRadar. The company also reported the number of properties sold to third parties continues to rise.

California first-time home buyer tax credit update
May 13th, 2010 - The California Franchise Tax Board (FTB) recently released an update on the California home buyers' tax credit alerting borrowers to fax delays it is experiencing. Due to the high volume of faxes, borrowers may experience delays or difficulties in connecting to the fax number during the FTB's normal business hours.

Most homes to begin building positive equity by late 2015
March 25th, 2010 - The typical U.S. homeowner in a negative equity position will begin to build positive home equity by late 2015 or early 2016, according to a forecast by First American CoreLogic.

Fed leaves key rate unchanged
April 28th, 2010 - The Federal Reserve today announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and continues to expect economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time.

Consumer confidence rises in April
April 27th, 2010 - The Consumer Confidence Index rose to 57.9 in April (1985=100) compared with 52.3 in March, the Conference Board reported yesterday. The Present Situation Index increased to 28.6 in April from 25.2 in March, and the Expectations Index improved to 77.4 from 70.4 last month, according to the report.

Housing starts rise for third consecutive month
April 26th, 2010 - California homebuilders pulled permits for 3,714 total housing units in March, a 4 percent increase compared with March 2009, and 7 percent higher compared with February, according to the California Building Industry Association (CBIA).

Lead-Based Paint Renovation Rule
April 12th, 2010 - Effective April 22, any renovation work that may disturb lead-based paint must comply with EPA regulations originally issued in 2008. According to C.A.R., REALTORS acting as listing agents or property managers who are advising their clients about any renovation projects may be required to inform them about these lead renovation requirements.

Interest in real estate investment triples
April 12th, 2010 - Interest in purchasing real estate as an investment has more than tripled in the past year, according to a survey conducted by Move, Inc. Nearly 17 percent of potential home buyers said they plan to purchase a home in the near future as an investment compared with 5.6 percent in March 2009, according to the survey.

Tax Relief for Short Sale and Foreclosure owners.
April 12th, 2010 - On April 12, 2010, SB 401, the Conformity Act of 2010 was enacted. It allows taxpayers who had all or part of the loan balance on their principal residence forgiven by their lender to exclude the forgiven debt from California gross income. The new law applies to discharges of qualified principal residence indebtedness on or after January 1, 2009, and before January 1, 2013.

Fed leaves key rate unchanged
January 27th, 2010 - The Federal Reserve today announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time.

2010 California Tax Credit for New Home / First-Time Buyer
April 1st, 2010 - The New Home / First-Time Buyer Credits are available only for purchases that close escrow on or after May 1, 2010

Fed leaves key rate unchanged
January 27th, 2010 - The Federal Reserve today announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time.

California home sales, median price rise in December
January 22nd, 2010 - Sales of existing, single-family homes rose 1.7 percent in December, while the median price rose 8.4 percent compared with the prior year, according to C.A.R.'s latest sales and price report.

Consumer Confidence Index rises in January
January 26th, 2010 - The Consumer Confidence Index rose in January to 55.9 (1985=100) compared with 53.6 in December, the Conference Board reported yesterday. The Present Situation Index increased to 25 in January from 20.2 in December, and the Expectations Index increased to 76.5 from 75.9 last month, according to the report.

At-risk FHA borrowers to receive early relief assistance
January 22nd, 2010 - Homeowners with loans insured by the Federal Housing Administration (FHA) experiencing financial hardship now are eligible for loss mitigation assistance prior to defaulting on their mortgage, the Dept. of Housing and Urban Development announced Friday.

FHA 90-day anti-flipping rule waived
January 15th, 2010 - The Dept. of Housing and Urban Development (HUD) announced Friday it will eliminate for one year the Federal Housing Administration (FHA) 90-day anti-flipping rule.

New rules for FHA borrowers
January 20th, 2010 - The Federal Housing Administration (FHA) today outlined future changes to the FHA home loan program. The changes first were proposed last month by Secretary of Housing and Urban Development (HUD) Shaun Donovan.

HAMP on track to meet goal
January 15th, 2010 - More than 110,000 permanent loan modifications were approved under the Obama administration's Home Affordable Modification Program (HAMP) as of December, according to the U.S. Dept. of the Treasury and the Dept. of Housing and Urban Development (HUD). Under HAMP, more than 850,000 homeowners have had a median payment reduction exceeding $500.

Most successful mortgage modifications reduce principal
December, 2009 - A new study found that borrowers who receive loan modifications that reduce loan balances, and not simply interest rates, are less likely to redefault on the loan, according to the Federal Reserve Bank of New York.

Consumer confidence rises in December
December 29th, 2009 - The Consumer Confidence Index rose in December to 52.9 (1985=100) compared with 50.6 in November, the Conference Board reported yesterday.

Case Shiller Index improved for ninth consecutive month
December 29th, 2009 - The annual rate of home-price decline improved in October in the 10-City and 20-City Composites tracked as one of the S&P/Case-Shiller Home Price Indices released yesterday.

Foreclosure activity declines 8 percent nationwide
December 10th, 2009 - A report by RealtyTrac shows that foreclosure filings, including notices of default, scheduled foreclosure auctions, and bank repossessions, decreased nearly 8 percent in November compared with the previous month, but were 18 percent higher compared with a year ago.

Foreclosure activity declines 8 percent nationwide
December 10th, 2009 - A report by RealtyTrac shows that foreclosure filings, including notices of default, scheduled foreclosure auctions, and bank repossessions, decreased nearly 8 percent in November compared with the previous month, but were 18 percent higher compared with a year ago.

California new-home sales rise 25 percent
December 10th, 2009 - 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)/HanleyWood Market Intelligence report.

Fed leaves key rate unchanged
December 16th, 2009 - The Federal Reserve today announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time.

California consumer confidence rises in fourth quarter
December 3rd, 2009 - The Anderson Center's California Composite Index of Consumer Confidence increased in the fourth quarter of 2009 to a reading of 76.3 compared with 69.2 in the third-quarter.

Pending home sales rise 3.7 percent in October
December 1st, 2009 - NAR's Pending Home Sales Index (PHSI) rose 3.7 percent to 114.1 in October from 110 in September, and is 31.8 percent higher than October 2008's 86.6 index reading.

Fannie to Rent to Owners in Foreclosure
November 6th, 2009 - Fannie Mae will allow homeowners facing foreclosure to stay in their homes and rent them for as long as a year, as part of the government's latest effort to help troubled borrowers, while keeping more foreclosed properties from hitting the housing market.

Pending home sales rose 6.1 percent in September
November 2nd, 2009 - NAR's Pending Home Sales Index rose 6.1 percent to 110.1 in September compared with 103.8 in August. The index now is 21.2 percent higher than its September 2008 reading of 90.9, the largest annual increase on record, and is at its highest level since December 2006 when it stood at 112.8.

Senate Plans to Extend and Expand Tax Credit
October 29, 2009-(MCT/The Wall Street Journal)-The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn.

Expiring Tax Credit Drives Up Home Sales
(Sep 11th, 2009) - First-time home buyers are scrambling to qualify for a federal tax credit that expires Nov. 30 and has been driving up sales activity after the worst downturn in decades.

Obama's mortgage relief program growing
(Sep 9th, 2009) - The Obama administration's $50 billion mortgage relief program is finally picking up speed after a sluggish and disappointing start: Nearly early one in five eligible homeowners have been offered help so far.

New home sales rise 9.6 percent in July
(Aug 26th, 2009) - Sales of new, single-family houses rose 9.6 percent in July compared with June, to a seasonally adjusted annual rate of 433,000 units, according to estimates released jointly by the U.S. Census Bureau and the Dept. of Housing and Urban Development.

C.A.R. reports July sales up 12 percent, prices declined 19.6 percent
(Aug 25th, 2009) - Home sales increased 12 percent in July in California compared with the same period a year ago, while the median price of an existing home declined 19.6 percent, C.A.R. reported yesterday.

S&P/Case-Shiller index posts first quarterly gain in three years
(Aug 25th, 2009) - Home prices improved in the second quarter of 2009, posting their first quarter-over-quarter gain in three years, according to the S&P/Case-Shiller U.S. National Home Price Index, released yesterday.

Index shows home prices increase from 1Q to 2Q
(Aug 25th, 2009) - Home prices posted their first quarterly increase in three years, signaling the housing market has turned a corner.

Builder confidence hits highest level since June 2008
(Aug 17th, 2009) - Builder confidence in the market for newly built, single-family homes rose one point in August to 18, its highest level since June 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released Tuesday.

Sales of new home rose 11 percent in June
(July 27nd, 2009) - Sales of new homes rose 11 percent in June, compared with May, and were at a seasonally adjusted annual rate of 384,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

Federal Housing Finance Agency index increases 0.9 percent
(July 22nd, 2009) - U.S. home prices rose 0.9 percent on a seasonally adjusted basis from April to May, according to the most-recent Federal Housing Finance Agency's (FHFA) monthly House Price Index (HPI).

Welcome to the bottom: Housing begins slow rebound
(Aug 1st, 2009) - From the frenzied peak of the real estate boom in 2005-2006 to the recession's trough earlier this year, home resales fell 38 percent and sales of new homes tumbled 76 percent. Construction of homes and apartments skidded 79 percent. And for the first time in more than four decades of record keeping, home prices posted consecutive annual declines.

Home Affordable Refinance eligibility expanded to 125 percent LTV
(July 1st, 2009) - WASHINGTON, DC -- Fannie Mae (FNM/NYSE) announced today that the company is providing information to servicers regarding changes to the Home Affordable Refinance Program (HARP) that permits refinancing of existing Fannie Mae loans with loan-to-value (LTV) ratios up to 125 percent. The loans will be eligible for delivery on or after September 1, 2009.

New Home California Tax Credit is Over
(July 3rd, 2009) - As of July 3, 2009, the Franchise Tax Board is no longer accepting new home credit applications. As shown in the numbers attached, the Franchise Tax Board has received over $100 million in new home credit applications and more than 12,000 applications...

Overlooked signs the U.S. housing market is turning
(June 5th, 2009) - Spurred by markdowns up to 80% from market highs, first-time buyers and investors both American and foreign descended en masse in the last three months on San Francisco's hardest-hit hinterlands as Wall Street and the economic climate improved.

Pending home sales increase for third consecutive month
(June 2nd, 2009) - Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to a recent report from NAR. Its Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it stood at 87.5.

Consumer confidence climbs to eight-month high
(May 26th, 2009) - Consumer confidence rose to 40.8 in May compared with the previous month and now stands at 54.9 (1985=100), according to a report released yesterday by The Conference Board.

Single-family home construction rises in April
(May 26th, 2009) - According to a report from the California Building Industry Association (CBIA), 2,265 single-family permits were pulled in California in April, down 33 percent when compared with the same month a year ago but a 21 percent increase compared with the previous month.

Builder confidence continues to rise in May
(May 18th, 2009) - Builder confidence in the market for newly built, single-family homes improved for a second consecutive month in May to the highest level since September of 2008, according to a recent report from the National Association of Home Builders (NAHB).

Foreclosures up less than 1 percent in April
(May 13th, 2009) - Foreclosure filings, which include default notices, auction sale notices, and bank repossessions, were reported on 342,038 U.S. properties in April, an increase of less than 1 percent from the previous month...

April consumer confidence jumps
(April 28, 2009) - Consumer confidence rose more than 12 points in April to 39.2 (1985=100), compared with 26.9 in March, according to a recent Conference Board report.

Pending home sales increased in February
(April 1st, 2009) - Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January.

Signs of life in California real estate
(April 3rd, 2009) - There's is a lot of activity out on the coast that may indicate a reawakening of the housing market there - and across the country.

C.A.R. REPORTS FEB. SALES INCREASED 83 PERCENT, MEDIAN PRICE DECLINED 40.8 PERCENT
(March 25th, 2009) - Home sales increased 83 percent in February in California compared with the same period a year ago, while the median price of an existing home declined 40.8 percent, according to a C.A.R. report released today. "Home sales in California continue to be considerably stronger than the nationwide sales figures," said C.A.R. President James Liptak.

U.S. home sales climb at fastest pace in 10 months
(March 25th, 2009) - Sales of newly built U.S. single-family homes rose at their fastest pace in 10 months in February...

U.S. renters turn buyers as homes become affordable
(March 25th, 2009) - In some U.S. markets, prices appear to have fallen enough to make buying cheaper than renting. Mix that with mortgage rates that are near record lows and renters who want to become buyers are rejoicing.

FHFA: First home-price increase in a year
(March 25th, 2009) - U.S. home prices rose a seasonally adjusted 1.7 percent from December to January, driven by a disproportionate number of sales in strong markets, according to a home-price index that tracks repeat sales of homes purchased with mortgages purchased or guaranteed by Fannie Mae and Freddie Mac.

Brighter Light at End of Housing Tunnel
(Feb 23rd, 2009) - Home prices have likely not finished falling, but there are signs of hope.

Home buyers to be dinged with new fees
(Feb 15th, 2009) - It's not what home buyers, sellers and refinancers want to hear, but what they need to know. Fannie Mae and Freddie Mac are ratcheting up their mandatory fees and toughening credit-score and down-payment rules as of April 1.

C.A.R. REPORTS ENTRY-LEVEL HOUSING AFFORDABILITY INCREASES TO 59 PERCENT
(Feb 18th, 2009) - The percentage of households that could afford to buy an entry-level home in California stood at 59 percent in the fourth quarter of 2008, compared with 33 percent for the same period a year ago, according to a report released today by C.A.R.

TREASURY DEPT. ANNOUNCES HOMEOWNER AFFORDABILITY AND STABILITY PLAN
(Feb 18th, 2009) - The U.S. Treasury Dept. today unveiled the Obama Administration's Homeowner Affordability and Stability Plan, which will offer assistance to as many as 9 million homeowners making a good-faith effort to stay current on their mortgage payments, while attempting to prevent the destructive impact of foreclosures on families and communities.

How the economic stimulus plan could affect you
(Feb 15th, 2009) - An examination of how the economic stimulus plan will affect Americans.

Homebuyers get a bonus in the stimulus bill
(Jan 29th, 2009) - If you're thinking of buying a home, there could be a big bonus for you in the economic stimulus bill that's now before Congress. Among its many provisions is a $7,500 tax credit for first time home buyers. The House passed the $819 billion stimulus plan, including this tax credit, in a vote late Wednesday.

RECORD LOW MORTGAGE RATES BOOST REFINANCE ACTIVITY
(Jan 14th, 2009) - The Market Composite Index, a measure of mortgage loan application volume, was 1324.8 for the week ending Jan. 9, an increase of 15.8 percent on a seasonally adjusted basis from 1143.8 one week earlier, according to the most recent report from the Mortgage Bankers Association (MBA).

AMERICANS FAVOR SMARTER TRANSPORTATION SPENDING IN STIMULUS BILL
(Jan 16th, 2009) - Eighty percent of Americans want transportation and other infrastructure spending included in the economic stimulus bill to target projects that achieve multiple goals and create new jobs, according to a survey sponsored by NAR and Transportation for America.

2008 FORECLOSURE ACTIVITY UP 81 PERCENT
(Jan 15th, 2009) - A total of 3,157,806 foreclosure filings, including default notices, auction sale notices and bank repossessions, were reported on 2,330,483 U.S. properties during the year, an 81 percent increase in total properties from 2007...

Mortgage rates dip to new all-time low
(Jan 8th, 2009) - Mortgage rates fell to another all-time low, declining for the tenth consecutive week.

NEW YORK FED BEGINS PURCHASING MORTGAGE-BACKED SECURITIES
(Jan 5th, 2009) - The Federal Reserve Bank of New York on Monday began purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Selected private investment managers are acting as agents of the New York Fed in these purchases.

More lenders allow "early workout" loan alterations
(Dec 21st, 2008) - Borrowers with loans owned by Fannie Mae no longer have to be behind in payments in order to qualify for a loan modification.

Mortgage rates fall to new low
(Dec 24th, 2008) - The average rate on a 30-year, fixed-rate mortgage dropped to 5.14 percent last week to a new record low, according to Freddie Mac.

Mortgage rates at 37-year low
(Dec 18th, 2008) - Rates on 30-year, fixed-rate mortgages dropped to 5.19 percent last week, the lowest level in 37 years, according to Freddie Mac.

SALES OF EXISTING HOMES INCREASED 83.2 PERCENT IN NOVEMBER
(Dec 23rd, 2008) - Home sales increased 83.2 percent in November in California compared with the same period a year ago, while the median price of an existing home fell 41.8 percent, according to the latest housing report from C.A.R.

FANNIE MAE STREAMLINES MORTGAGE MODIFICATION PROGRAMS
(Dec 18th, 2008) - Fannie Mae recently announced the Streamlined Modification Program (SMP) is now available to Fannie Mae servicers and borrowers as an option to help prevent foreclosures.

KEY INTEREST RATE TO RANGE FROM 0 TO .25 PERCENT
(Dec 16th, 2008) - In what analysts characterized as a symbolic move, the Federal Reserve yesterday established a target range for the federal funds rate of 0 percent to .25 percent, and said it was committed to expanding its purchases of mortgage-backed securities.

FANNIE MAE STREAMLINED MODIFICATION PROGRAM ANNOUNCED
(Dec 8th, 2008) - Fannie Mae announced a series of actions designed to help borrowers and loan servicers address potential mortgage problems and prevent unnecessary home foreclosures among the more than 18 million single-family loans owned or guaranteed by Fannie Mae.

Fannie Mae Provides New Servicer Flexibility to Help Borrowers Avoid Foreclosure
(Dec 8th, 2008) - Fannie Mae issued new policies regarding foreclosure prevention and loan modifications. The guidelines are aimed at borrowers who have missed three or more payments.

FHFA ANNOUNCES "NEW" CONFORMING LOAN LIMITS
(Nov 7th, 2008) - The Federal Housing Finance Agency (FHFA) on Friday announced that the "new" conforming loan limit for 2009 will remain at $417,000 for most areas in the U.S., unchanged since 2006. Loan limits for high-cost areas, including California, are capped at $625,500, down from the previous $729,750 limit. Yun, Chief Economist of the National Association of Realtors.

Obama inherits markedly better housing market
(Nov 6th, 2008) - "The sales turnaround, which began in California several months ago, is broadening now to Colorado, Kansas, Minnesota, Missouri and Rhode Island," says Lawrence Yun, Chief Economist of the National Association of Realtors.

September sales and price report
(Oct. 24) - Home sales increased 96.7 percent in September in California compared with the same period a year ago,...

REAL ESTATE MARKET TO HIT BOTTOM NEXT YEAR
(Oct 21st, 2008) - Real estate industry experts expect financial and real estate markets in the United States to bottom in 2009.

NEW-HOME SALES RISE 2.7 PERCENT IN SEPTEMBER
(Oct 27th, 2008) - Sales of newly built single-family homes posted a slight increase in September, rising 2.7 percent to a seasonally adjusted annual rate of 464,000 units, according to a U.S. Dept. of Commerce report released Monday.

C.A.R. FORECAST CALLS FOR PRICES TO LEVEL OUT AND SALES TO RISE IN 2009
(Oct 15th, 2008) - "Sales in 2008 will be ahead of last year by 12 percent, with a further increase of 12.5 percent expected in 2009," said C.A.R. Chief Economist Leslie Appleton-Young.

FED ANNOUNCES PLAN TO PURCHASE EQUITY STAKES IN BANKS AND THRIFTS
(Oct 14th, 2008) - The federal government on Tuesday announced the launch of a new program designed to assist with ongoing efforts to help stabilize the U.S. banking system and restore confidence in the country's financial markets, as well as those abroad.

FED, WORLD BANKS, LOWER SHORT-TERM INTEREST RATES BY HALF A PERCENTAGE POINT
(Oct 8th, 2008) - The Fed, in concert with several world banks today lowered key lending interest rates by half a percentage point in an effort crafted to curb economic damage from the U.S. financial crises that has been spreading across global markets.

NEW HOME SALES ROSE 2.4 PERCENT IN JULY (PDF)
(Aug 26th, 2008) - Sales of new, single-family homes rose 2.4 percent in July to a seasonally adjusted annual rate of 515,000 units, according to new data from the U.S. Census Bureau and the Dept. of Housing and Urban Development released Tuesday.

C.A.R. REPORTS SALES INCREASED 43.4 PERCENT; MEDIAN HOME PRICE FELL 40.3 PERCENT IN JULY
(Aug 25th, 2008) - "Sales improved significantly in July 2008 and remained above the 400,000 level for the third consecutive month," said C.A.R. President William E. Brown. "Deeply-discounted, distressed sales continue to drive volume in many regions of the state. July also was the first full month during which the effects of higher $729,000 conforming loan limits likely had an impact on closed sales."

HOME BUILDERS' CONFIDENCE IN MARKET INCREASES IN AUGUST
(Aug 18th, 2008) - Sales expectations among single-family home builders for the next six months increased two points in August to 25, while current sales conditions increased by one point to 16, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The component that measures traffic of prospective buyers remained at 12.

C.A.R. REPORTS Q2 ENTRY-LEVEL HOUSING AFFORDABILITY INCREASES 50 PERCENT
(Aug 19th, 2008) - Nearly half of first-time home buyers in California were able to afford an entry-level home in California in the second quarter of 2008, according to a report released yesterday by C.A.R. Affordability rose to 48 percent in the second quarter compared with 24 percent a year ago.

PENDING HOME SALES INDEX INCREASES 5.3 PERCENT IN JUNE
(Aug 7th, 2008) - The Pending Home Sales Index, based on contracts signed in June, increased 5.3 percent in June to 89.0 from 84.5 in May, according to the latest report from NAR.