Real Estate by the Numbers: Week of February 26 – March 4
A quick rundown of the important real estate news from the week of February 26 – March 4, by the numbers:
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8.9% – February unemployment rate, the lowest since April 2009.
78% – Percentage of Americans who believe home prices will stay steady or increase in the next year according to a Fannie Mae survey. That’s up from January 2010, when 73% believed the same thing. However, about two-thirds surveyed still think the economy’s on the wrong track.
9.39% – Percentage of all commercial mortgage-backed securities (CMBS) that were delinquent in February. It’s a record level for CMBS delinquencies.
4.87% – Average rate on a 30 year fixed mortgage loan, down from 4.95%.
15%, 20% or 25% – Percentages that homes prices may still fall according to Robert Shiller, co-founder of the S&P/Case-Shiller home price index. Not quite as pessimistic, Dean Baker, co-director of the Center for Economic and Policy Research, sees only a 10% or 15% drop in home prices.
6.5% – Drop in mortgage applications from the previous week according to a Mortgage Bankers Association survey.
$1.4 billion – Total amount of SBA 504 loans in the first quarter of 2011 – a jump from the $1.1 billion total in the fourth quarter of 2010. “SBA 504 loans allow small businesses to finance the purchase, construction, and renovation of commercial real estate, as well as the acquisition and installation of heavy machinery and equipment.”
30,875 square feet – Size of New York Yankee Derek Jeter’s new Tampa Bay mansion.
$42 million – Pocket listing price of Jennifer Aniston’s Beverly Hills home. In 2006, she bought the house for $13.5 million.
368,000 – Initial claims for unemployment insurance for the week ending February 26. The number is down from 388,000 claims from the previous week’.