Real Estate News by the Numbers: Week of January 21 – January 27
A quick rundown of the important real estate news from the week of January 21 – January 27, by the numbers:
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$25 Million – Listing price for billionaire Tim Headington’s Miami Beach penthouse. The 11,962 square foot unit is located next door to Dallas Mavericks owner Mark Cuban’s unit.
6.2% – Drop in new U.S. homes sales in 2011 from the previous year. The 302,000 homes sold in 2011 is the lowest since the government started tracking the figure in 1963. Also, in December, new home sales fell 2.2% month-over-month.
20% – Number of all U.S. home sales that were foreclosures in the 3rd quarter of 2011 according to RealtyTrac. The number is a down signficantly from the 3rd quarter of last year when it was at 30%.
2.8% – GDP growth in the 4th quarter of 2011. The number disappointed, as economists had expected 3% growth. Nonetheless, it was the largest quarter of growth in 2011.
30% – Decline in new originations in November, year-over-year. There were 537,720 originations in November, compared to 724,364 in December 2010.
17% – Increase in net sales orders for home builder Horton in the quarter. The $705.6 million in sales orders, which is a leading indicator for home builders, is a sign that the housing market may slowly be recovering.
3.98% – Average rate on a 30-year fixed mortgage this week according to Freddie Mac. The rate is up from last week’s record low of 3.88%.
$4.25 Million – Listing price for “Scarface” director Brian De Palma’s home. The 4,200 square foot mansion is located in Santa Monica, CA.
$400 Million – Amount HUD approved in aid to eight states recovering from 2011 disasters. States receiving aid, from highest award to lowest were New York, North Dakota, Alabama, Missouri, Pennsylvania, Texas, Vermont, New Jersey.