An review of real estate statistics news for ones San Francisco Bay Area real estate market

An review of real estate statistics news for ones San Francisco Bay Area real estate market

An overview of real estate statistics news to your San Francisco Bay Area real estate market for December 2010, reveals these trends and projections presented below - as reported by DataQuick.

Government-insured FHA loans, a well-liked option in between first-time buyers, accounted for 23.7 percent of all property invest in mortgages in December, down from 23.9 percent in November and 25.0 percent in December 2009.

Sales of higher-cost homes continue to suffer inside the credit shortage that struck three years ago, doing adjustable-rate mortgages (ARMs) and "jumbo" loans more hard to obtain.

In December, 9.1 percent in the Bay Area's house purchase loans were ARMs, down from a revised 9.9 percent in November and up from 7.9 percent a year ago. The Bay Area's average monthly ARM rate more than the last decade is 53 percent. ARMs hit a low of 3.0 percent in January 2009.

Jumbo loans, mortgages more than the old conforming limit of $417,000, accounted for 31.3 percent of last month's buy lending, down from a revised 33.4 percent in November, and up from 29.9 percent in December 2009, along with a post-housing-boom low of 17.1 percent in January 2009. However, just before the August 2007 credit score crunch, jumbos accounted for virtually 60 percent from the Bay Area acquire loan market.

Last month absentee shoppers - mostly investors - purchased 18.7 percent of all Bay Area homes sold, compared with 17.0 percent in November and 17.9 percent a year ago. A review in the real estate statistics news shows the monthly average because 1988 at 16.5 percent.

Buyers who appeared to get paid all funds - accounted for 24.3 percent of sales in December, compared with 25.0 percent in November, 23.6 percent a year ago and an average of 11.5 percent heading back to 1988, as the real estate statistics news show.

Home flipping trended lower in December, after 2.1 percent of the homes that sold on an open market were bought and re-sold inside a six-month period. That was down from a flipping rate of 2.7 percent in November and 2.3 percent a year earlier. Last month's flipping rates varied from 0.8 percent in San Francisco to 2.9 percent in Contra Costa County - as shown in the real estate statistics news.

The normal monthly mortgage payment that Bay Area consumers committed themselves to paying last month was $1,558, up from $1,504 in November, and down from $1,619 a year ago. Adjusted for inflation, last month's payment was 41.6 percent below the regular payment in spring 1989, the peak of the prior real estate cycle. It was 56.9 percent below the modern-day cycle's peak in July 2007.

Foreclosure workout remains high by historical standards but below peak levels reached more than the last two years. Financing with several mortgages is low, down payment sizes are stable, and non-owner occupied buying is above average, DataQuick reported inside the latest real estate statistics news.

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