What Were the Actual Numbers (February 2012)
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The Sloan Team
at Fidelity National Title What Were the Actual Numbers (February 2012)? There were modest gains across the southland for volume, while prices declined a total of 3.7%. (This is for the counties of Ventura, LA, Orange, San Bernardino, Riverside and San Diego.) There was a total of 14,369 sales for February 2011 and 15,573 for February 2012. Orange County had a total of 1,904 for February 2012, Riverside came in at 3,011, and San Bernardino had 2,082. Short sales made up an estimated 20.5% of all southland sales and foreclosures accounted for 32% of the sales in March for all of So Cal. Absentee buyers-- mainly investors and a few second home buyers, bought a record 29.7% of all sales in So Cal. This is a strong number that would indicate prices are reaching a bottom. Jumbo loans are making a strong comeback accounting for 14.4% of the total purchase loans for the month. Adjustable rate loans had a sliver of the market at just over 5%. Obviously, conforming fixed rate loans grabbed the lion's share of the lending market. Finally, all cash purchasers accounted for a record 32.8% of southland, February home sales, slightly up from the previous month and for February of the previous year.
at Fidelity National Title What Were the Actual Numbers (February 2012)? There were modest gains across the southland for volume, while prices declined a total of 3.7%. (This is for the counties of Ventura, LA, Orange, San Bernardino, Riverside and San Diego.) There was a total of 14,369 sales for February 2011 and 15,573 for February 2012. Orange County had a total of 1,904 for February 2012, Riverside came in at 3,011, and San Bernardino had 2,082. Short sales made up an estimated 20.5% of all southland sales and foreclosures accounted for 32% of the sales in March for all of So Cal. Absentee buyers-- mainly investors and a few second home buyers, bought a record 29.7% of all sales in So Cal. This is a strong number that would indicate prices are reaching a bottom. Jumbo loans are making a strong comeback accounting for 14.4% of the total purchase loans for the month. Adjustable rate loans had a sliver of the market at just over 5%. Obviously, conforming fixed rate loans grabbed the lion's share of the lending market. Finally, all cash purchasers accounted for a record 32.8% of southland, February home sales, slightly up from the previous month and for February of the previous year.
