Real Estate News by the Numbers: Week of May 14 – May 21
A quick rundown of the important real estate news from the week of May 14 – May 21, by the numbers:
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54% – Americans who believe that a housing recovery isn’t likely to take place until 2014 or later, according to a Trulia survey. “In a previous survey conducted six months ago , 42% thought the market would turn around by 2012 or had already turned around. Now, only 23 percent continue to think this will happen.”
8.7 – Score, out of 10, from a survey of real estate agents and brokers by HomeGain, for the effectiveness of Referrals as a marketing strategy. It was the highest score, followed by ‘Leads from your Broker,’ ‘Event [Open House],’ ‘Featured Listings,’ and ‘Email Campaigns.’
6.5 Million – Number of homes that have been foreclosed on since the housing market peaked in 2006. Additionally, there’s another 4.3 million households that are ‘seriously delinquent,’ or more than 3 months behind on their payments.
5.05 Million – Number of previously occupied home units sold in April on a seasonally adjusted annual rate. That represents a 0.8% drop from the previous month. The pace is below the 6 million units economists believe to be healthy.
523,000 – Number of housing starts in April on an annual basis. That’s a drop of 10.6% from the previous month and below the 563,000 units economists expected.
1.6% – Increase in home prices in San Diego in 2010. With median home prices now at $385,000, San Diego is number 1 on CNNMoney’s list of “10 Top Turnaround Towns.”
35% – Drop in the median realtor’s income over the past eight years, according to a new study from the National Association of Realtors. “The median income for real estate professionals in the NAR network last year was $34,100, a 4.5% decline from 2009. Realtor income dropped every year since 2002 when the peak salary hit $52,200 and salaries are down 34.7% between then and 2010.”
4.61% – Average rate on a 30-year fixed mortgage this week, according to Freddie Mac. The average rate is down from 4.63% the previous week.
$21 Million – Amount a L.A. real estate investor was accused of stealing in a tax shelter scheme. The investor was convicted on four accounts of wire fraud this past Thursday.