A quick rundown of the important real estate news from the week of January 28 – February 3, by the numbers:
8.3% – U.S. unemployment in January, the fifth straight month that unemployment has dropped. All together, 243,000 jobs were added in January, 100,000 more than economists had expected.
1.3% – Drop in home prices month-over-month in November according to the new S&P/Case-Shiller 20-city index. Prices fell in 19 of 20 cities and are down 3.7% from last year and off 32.8% from the peak.
3.87% – Average rate on a 30-year fixed mortgage this week according to Freddie Mac. The rate is down from last weeks average rate of 3.98% and once again sets a record low for mortgage rates, falling below the previous record of 3.88%.
$3,000 – Average saving per year for “underwater” borrowers current on their mortgage under new legislation proposed by the Obama administration. The plan would involve refinancing into loans back by the FHA. The $5 to $10 billion cost of the propsed plan would be paid for by fees on large banks.
$7.4 Million – Sales price for Anna Kournikova’s Miami Beach home. The 6,630 square foot home is located in the exclusive Sunset Island area. The house was purchased by Anna for $5 million back in 2002.
$416 Million – Acquisition cost for 8 retail and residential properties in New York City. The Buyer, SL Green Realty Corp., is New York City’s largest office landlord.
66.0% – Number of homes being occupied by their owners in the fourth quarter of 2011. That percentage is a half-point lower fourth quarter 2010 and is the lowest level of home ownership since 1998.
10.1% – Drop in mortgage originations in December from November. For the year, originations were down 29.3%.
$10.5 Million – Listing price for New England Patriot’s star Tom Brady’s Boston condo. The 5,311 square foot home’s price has been reduced $400,000 from when it was originally listed.