Real Estate News & Commentary

Real Estate News by the Numbers: Week of April 28 – May 4

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A quick rundown of the important real estate news from the week of April 28 – May 4, by the numbers:

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34% – Decrease, nationally, in home prices since 2006. However, Stuart Hoffman, chief economist for PNC Financial Services, expects home prices to climb by next year.

8.1% – U.S. unemployment in April. And although that’s the lowest number since Obama took office, the economy added 115,00o jobs in April, meanwhile, 350,000 gave up looking for work.

3.84% – Average rate on a 30 year fixed mortgage this week according to Freddie Mac. It's the lowest rate in history. The previous record low rate was 3.87%.

3.07% – Average rate on a 15 year fixed mortgage this week according to Freddie Mac. That is also an all time low. The previous record low rate occurred three weeks ago when the rate hit 3.11. The 15 year fixed is a popular option for refinances.

$50 Million – Listing price for Internet millionaire Tom Gonzalez’s Lake Tahoe home. The compound is very elaborate and includes a 12,000 square foot underground parking garage.

22% – Increase in Simon Property Group’s stock price in 2012. The S&P 500 has only increased 11.7% during the same time period. Simon Property has been the world’s largest shopping mall operator since 1995.

$11.985 Million – Listing price for Ryan Seacrest’s Los Angeles home. The home had previously been listed for $14.95 million and previously owned by Kevin Costner.

$55 Million – Contract price for late heiress Hugette Clark’s upper east side Manhattan’s apartment according to the Wall Street Journal. The apartments are selling to 3 separate Buyers.

    Thomas Brewer
    Replied about 8 years ago
    Hi Douglas, Interesting statistics. I am researching national averages versus the Texas market. More specifically Tarrant County. Our unemployment is trending lower and market sales have been on the upswing for certain areas. The national statistics seem to be on the positive side. Are you experiencing a lower foreclosure inventory in your areas as well?