Real Estate News & Commentary

Real Estate News by the Numbers: Week of September 17 – September 23

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A quick rundown of the important real estate news from the week of September 17 – September 23, by the numbers:

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22.5% – Percentage of homes that are “underwater” according to CoreLogic. That equates to 11 million home owners that owe more than their house is worth.

$10 Million – Listing price for former “American Idol” judge Kara DioGuardi’s Studio City, CA home. The 7,600 square foot home is on 3 and half acres was originally built in the 1920s and recently has undergone a major renovation.

7.7% – Jump in home sales last month according to the National Association of Realtors. On a seasonally adjusted annual rate, 5.03 million homes sold. However, the rise in homes sales were due in no small part to rise in foreclosure related sales, which were up 29% from the previous month.

$168,300 – Median home price for an existing home in August. That price is down 5.1% from the previous year. Despite the fall in median home price, home sales increasing 18.6% for the year .

4.09% – Average rate on a 30-year fixed mortgage this week according to Freddie Mac. The rate stayed the same from the previous week.

70% – Percentage in a recent Trulia survey who still believe that home ownership is part of the American Dream. The same survey also concluded that 80% 0f homeowners plan to buy again and that 59% of renters hope to be a home owner one day.

$17.995 Million – Listed price of the Hamptons estate Jennifer Lopez is in talks to buy. The 14,000 square foot home is on 2 acres and was built in 2009.