A quick rundown of the important real estate news from the week of December 31 – January 6, by the numbers:
$2.34 Billion – Amount of money the Carlyle Group has raised for its sixth US real estate fund. It will use the fund to invest in residential, senior living, retail, hospitality and office properties in major US cities.
2.7% – Increase in mortgage delinquencies in November from October according to Mortgage Monitor. It’s the first time in 22 months that delinquencies went up.
$1.945 Million – List price for an Alaskan home that includes a private island. The home sits on Alaska’s Baronof Island and includes a 180 foot walkway to a guest house located on a separate Bart Island.
15.1% – Return in the 4th quarter of 2011 for real estate investment trusts. It’s the best performance for REIT stocks since the 3rd quarter of 2009 and the opposite performance of the 3rd quarter this year, when stocks declined 15%, according to the Dow Jones All REIT Index.
6% – Drop in Manhattan home prices in the 4th quarter of 2011 compared to the third quarter. The median price was $855,000 in the quarter, down from $911,333 in the previous quarter.
11% – Increase in FHA delinquencies in November from August. The FHA’s reserve fund is now down to 0.24% ($2.6 billion) of all insured loans. “‘It’s highly likely that the FHA will need a taxpayer bailout over the next three to five years,’ said Joseph Gyourko, a real estate professor at the University of Pennsylvania’s Wharton School.”
3.91% – Average rate on a 30-year fixed mortgage this past week according to Freddie Mac. The rate is down from last week and matches the record low rate from two weeks ago.
200,000 – Number of jobs added to the US economy in December 2011. The number was well above the average growth rate of the 131,000 job per month added from January to November. Also, the unemployment rate ticked down to 8.5%, down significantly from the 9.4% rate a year ago.
$1.5 Million – List price for Renee Zellweger’s Connecticut estate. The 4,287 square foot home sits on 38.79 acres and was built in 1770.