Real Estate News & Commentary

Real Estate by the Numbers: Week of April 23 – April 29

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A quick rundown of the important real estate news from the week of April 23 – April 29, by the numbers:

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0.2% – Decline in the S&P/Case-Shiller 20-city index in February from January. The index measures home prices in 20 major cities. Nineteen cities saw a decline month-over-month. Ten of those cities – Atlanta, Charlotte, Chicago, Las Vegas, Miami, New York, Phoenix, Portland, Seattle and Tampa – reached their lowest level since 2006 or 2007. Only Detroit experienced a monthly gain in home prices.

$10 Million – Listing price for Ozzy and Sharon Osbourne’s Malibu, CA mansion.

11% – Rise in new home sales in March from February, which represents a seasonally adjusted rate of 300,000 sales. That is still off from the 700,000 annual new home sales economists feel is healthy. Nonetheless, it’s the first time in 4 months that new homes sales have risen.

1.8% – Anticipated drop in median home prices for an existing home in 2011 according to the National Association of Realtors.

$860 Million – Acquisition price paid for Loopnet. Commercial real estate information firm Costar Group purchased their longtime competitor with a $415 million loan commitment from J.P. Morgan.

5.1% – Gain in signed home contracts in March according to the National Association of Realtors’ pending home sales index. “Signings are 24 percent above June’s reading, the low point since the housing bust. But March’s 94.1 index is below 100, which is considered healthy..”

4.78% – Average rate for a 30-year fixed mortgage loan according to Freddie Mac. The rate is down slightly from last week's average of 4.80%

78% – Percentage of major cities where it is cheaper to buy then rent. According to Trulia, it’s cheaper to buy then rent in 39 of 50 major cities.

$3.2 Million – Listing price for Beverly Hills 90210 star Tori Spelling’s Encanto, CA home. The house is located in the 91316 zip code.