A quick rundown of the important real estate news from the week of April 14 – April 20, by the numbers:
33% – Increase in January, year-over-year, in short sales in the U.S. In total, 32 states saw an increase in short sales.
6.9% – Increase in mortgage applications, on a seasonally adjusted basis, from the week before. The Refinance Index was up 13.5%, whereas the Purchase Index was down 11.2%
2.6% – Decrease in existing homes sales in March, from the previous month according to the National Association of Realtors. Year-over-year, however, existing home sales were up 5.2%.
3.90% – Average rate on a 30-year fixed mortgage this week according to Freddie Mac. The rate is up from last week’s average rate of 3.88%.
7% – Growth rate that Moody’s Investors Service is predicting for the home building industry in 2012. Moody’s predicts that MDC Holdings, Toll Brothers, D.R. Horton and Lennar could exceed 7% growth. Meanwhile, Hovnanian Enterprises, Beazer Homes and Orleans Homebuilders could be laggards.
$3,418 – Average rent in Manhattan in March according to City Habitats, NYC’s largest rental brokerage firm. That is an all-time high.
5% – Increase in rents over the past year in college towns according to Trulia. Realtor.com CEO Steve Berkowitz see another 5% bump in the coming year.
$2.649 Million – Listing price for the home of Julie Andrews, the actress who played Mary Poppins. The four-bedroom, three bathroom house is located in Brentwood, CA and was built in 1948.Real Estate News by the Numbers: Week of April 14 – April 20 by Douglas Lazovick