Real Estate News by the Numbers: Week of March 3 – March 9


A quick rundown of the important real estate news from the week of March 3 – March 9, by the numbers:

227,000 – Number of jobs the U.S. economy added in February. The number exceeded the 204,000 jobs analysts expected. However, the unemployment rate remained at 8.3%.

$14.5 Million – List price for Rachel “Bunny” Mellon’s Caribbean vacation home. Bunny Mellon, 101, was the wife of the late Paul Mellon. The estate sits on 26 acres.

3.88% – Average rate on a 30 year fixed mortgage this week according to Freddie Mac. The rate is down from last week, when the average rate was 3.90%.

$304 Million – Cost of a new Apple campus to be located in Austin, Texas. The new campus will create 3,600 new jobs and double Apple’s workforce in Austin over the next 10 years.

$3.5 Million – Listing price for Dick Clark’s Malibu home. The unique “Flintstones” looking house over looks the Pacific Ocean.

52% – Rent to income ratio in New York City, the highest ratio for any city in the U.S. New York topped the city with the second highest rent to income ratio, Los Angeles (36%) by a large margin.

16.1% – Amount of all recent searches for $1 million plus homes on that were in the Los Angeles-Long Beach metro area. The area was the most searched area, with Orange county coming in a distant second.

1% – Fall in home prices nationally in January from December. It’s the sixth month in a row that home prices are down. Prices are also down 3.1% from a year ago.

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  1. Pundits are saying 2012 might be the year Real Estate turns the corner.

    If the current President hopes to stay in office, it might have to happen soon.

    Realty Executives

    “Karleton is a leader; a skilled communicator, and a creative thinker. Overall an asset to whatever company or project he participates in.” – Adam Goodman, January 22, 2008

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