Top Stories San Diego Real Estate Market Update Home resales of single-family detached homes in San Diego County fell in January. Compared month-to-month resales were down 22.1%, but compared year-over-year resales were up 16.3%. Mortgage Applications Down Mortgage applications fell for the 2nd consecutive week, down 0.6%. On a seasonally adjusted basis, the purchasing index, including refinancing and demand, was down 1.7% week-to-week. Housing Starts Weaker than Expected Housing starts fell in January, mostly due to a decline in apartment construction (down nearly 25%). The rate of construction on single-family homes was up 0.8%. Mortgage Rates Up This Week Still at historic lows, mortgage rates continue to inch up. This week the rate on a 30-year fixed loan was 3.56%, up from 3.53% last week. Foreclosure Filings at Lowest Level Since '07 Foreclosure filings, including bank repossessions (down nearly 50% compared to 2010), auctions and default notices dropped 7% compared month-to-month and have dropped 28% compared year-over-year. US Home Prices Rose Most in 6 Years Real estate data tracker CoreLogic reported Tuesday that home prices rose the most in six years in December, marking the 10th month in a row that prices rose on a year-to-year basis. "Housing is Clearly Recovering" Prices, for single-family homes in the United States, jumped when compared year-to-year due to a lack of inventory and rising sales. Pending Home Sales Unexpectedly Slip 4.3% The National Association of Realtors reported Monday that pending home sales slipped 4.3 percent in December, surprising economists who were expecting the gauge to increase by 1 percent. Prudential Becoming Berkshire Brand Prudential California Real Estate - the longtime leader in La Jolla real estate and home of the Ruth Mills Team has announced it is a part of the new franchise brand "Berkshire Hathaway HomeServices". More Articles
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