Real Estate News & Commentary

Real Estate News by the Numbers: Week of May 12 – May 18

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A quick rundown of the important real estate news from the week of May 12 – May 18, by the numbers:

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$90 Million – Price paid for a Midtown Manhattan penthouse, breaking the record for the highest price paid for an apartment in New York City. The previous record holder was an $88 million home purchased by a Russian billionaire in December 2011.

3.79% – Average rate on a 30 year fixed mortgage this week according to Freddie Mac. The rate is once again at a record low, falling from last weeks average rate of 3.83%.

 3.04% – Average rate on a 15 year fixed mortgage this week according to Freddie Mac. The 15 year, which is popular for refinances, is also at a record low.

$144,899 – Average manufacturing wage in San Jose-Sunnyvale-Santa Clara, California. The average wage is the highest in the nation, as many of the jobs are high-tech jobs.

78% – Number of homes sold in the first quarter of 2012 that were affordable to those earning the national median income ($65,000). It’s the most affordable homes have been in 20 years.

36% – Drop in home prices since the peak of the real estate bubble.

$29.3 Million – Listing price for singer Celine Dion’s 24,00o square foot home. The house is located on a 20 acre private island in Canada.

5 Points – Rise in builder confidence in May according the National Association of Home Builders/Wells Fargo Housing Market Index. The 29 reading is the highest since May 2007.

    Johnny Brooks
    Replied about 8 years ago
    Can interest rates drop any lower? It’s a sign of our economy.