Real Estate News by the Numbers: Week of June 11 – June 17
A quick rundown of the important real estate news from the week of June 11 – June 17, by the numbers:
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13 – Score, on an index by the National Association of Home Builders that measures builder’s sentiment. That score is the lowest in nine months and it’s just 5 points above the January 2009 all time low. A score of 50 or more represents a positive sentiment among builders, a number that hasn’t been reached since April 2006.
3.37% – Drop in a University of Michigan US consumer confidence index in June from May. The index dropped to 71.8 from 74.3. Economists had forecasted a score of 74. “Unemployment climbed in May to the highest this year, and employers added the fewest workers in eight months, further stressing the largest part of the economy.”
612,000 – Number of housing construction permits, on a seasonally adjusted annual rate in the last month. The number is up 8.7% from the revised April permits of 563,000. The 612,000 permits were much higher than the 548,000 expected and the most since December.
$579,300 – Median home price in Honolulu sold in the first three months of the year according to the National Association of Realtors. That price puts Honolulu as the most expensive housing market in the US.
33% – Decrease in foreclosure filings in May from the previous year. Filings were also down 2% month-over-month. Furthermore, the 66,879 houses that were repossessed in May is a 29% drop year-over-year and 3.8% drop from April.
$85 Million – Reported purchase price for Candy Spelling’s Holmby Hills estate. The 56,500 square foot home is reportedly being purchased by Petra Ecclestone, a 22 year old British heiress. The property was listed at $150 million, making it the most expensive residential listing in the nation.
4.49% – Average rate on a 30 year fixed mortgage this week according to Freddie Mac. The rate is down slightly from last week’s 4.50% rate and is the lowest rate in 2011 to date.
8 Years – Amount of time former Colonial Bank executive, Catherine Kissick, was sentenced to in a federal prison. Catherine has recieved the longest sentence to date from the fallout of the $2.9 Billion Taylor, Bean & Whitaker Mortgage Corp fraud scheme.