Real Estate News by the Numbers: Week of June 4 – June 10

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A quick rundown of the important real estate news from the week of June 4 – June 10, by the numbers:

38%Equity US homeowners have in their home. A decade ago, the average American had 61% equity in their home.

700,000 – Households who have had their mortgages permanently lowered after starting on a trial basis, as a result of the foreclosure prevention programs that started in 2009.

843,000 – Number of households that didn’t receive a permanent loan modification after starting out on a trial basis. “Homeowners have complained that the program has been a bureaucratic mess. Many have said they were disqualified after banks lost their documents and failed to return their phone calls. Banks have blamed homeowners for failing to submit needed paperwork.”

4.49% – Average rate on a 30 year fixed mortgage according to Freddie Mac. It’s the eight week in a row that rates have dropped and a drop from last week’s average rate of 4.55%

5 – Years that a West Palm Beach, FL, family have lived at their 5 bedroom home without paying their mortgage. Nationwide, on average, it takes 565 days from first missed payment to foreclosure.

27% – Percentage of homeowners that would consider walking away from an underwater mortgage according to a new survey from Fannie Mae. That figure is up 15% from last year.

4.9% - Drop in real estate prices across 9 major cities in China this past April from a year earlier. “World Bank economists warned at a Beijing press briefing that a real-estate bubble was among the biggest economic risks China faces.”

3.6 Million – Amount HUD will award in 2011 for the revitalization of public housing and privately owned HUD-assisted  housing as part of it’s Choice Neighborhoods Initiative.

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1 Comment

  1. Quite interesting figures there Douglas! Thanks for the post! Really insightful on the part of real estate professionals, and home buyers as well.

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