{"id":470,"date":"2011-08-23T09:49:55","date_gmt":"2011-08-23T17:49:55","guid":{"rendered":"http:\/\/www.jerrybice.com\/wordpress\/?p=470"},"modified":"2011-08-23T09:49:55","modified_gmt":"2011-08-23T17:49:55","slug":"july-pending-home-sales","status":"publish","type":"post","link":"https:\/\/www.jerrybice.com\/wordpress\/july-pending-home-sales\/","title":{"rendered":"July Pending Home Sales"},"content":{"rendered":"

For release:
\nAugust 23, 2011<\/p>\n

Fewer distressed property sales in July; California pending home sales decline, C.A.R. reports<\/p>\n

LOS ANGELES (Aug. 23) \u00e2\u20ac\u201c California pending home sales dipped in July, as did the share of sales of distressed properties, the CALIFORNIA ASSOCIATION OF REALTORS\u00c2\u00ae (C.A.R.) reported today.<\/p>\n

Pending home sales:<\/p>\n

Pending home sales in California fell 1.7 percent in July, according to C.A.R.\u00e2\u20ac\u2122s Pending Home Sales Index (PHSI)*.\u00c2\u00a0 The index was 117.0 in July, down from June\u00e2\u20ac\u2122s index of 119.0, based on contracts signed in July.\u00c2\u00a0 The index was up 4.9 percent from July 2010.\u00c2\u00a0 Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.<\/p>\n

\u00e2\u20ac\u0153While pending home sales dipped in July, all indications show we should continue at the current level for the next couple of months,\u00e2\u20ac\u009d said C.A.R. President Beth L. Peerce.\u00c2\u00a0 \u00e2\u20ac\u0153Pending sales have been ahead of last year\u00e2\u20ac\u2122s level for the past three consecutive months and should be on track to finish the year even with last year\u00e2\u20ac\u2122s pace.\u00e2\u20ac\u009d<\/p>\n

Distressed housing market data:<\/p>\n

\u00e2\u20ac\u00a2\u00c2\u00a0The total share of all distressed property types sold statewide fell to 44.5 percent in July, down from June\u00e2\u20ac\u2122s 46.9 percent.\u00c2\u00a0 The share of distressed sales also was down from a year prior, when distressed sales totaled 47.7 percent of all home sales.
\n\u00e2\u20ac\u00a2\u00c2\u00a0Of the distressed properties sold statewide, 17.5 percent were short sales, a decline from last month\u00e2\u20ac\u2122s share of 19.3 percent and last July\u00e2\u20ac\u2122s share of 20.9 percent.
\n\u00e2\u20ac\u00a2\u00c2\u00a0At 26.7 percent, the share of REO (real estate-owned) sales was down from June\u00e2\u20ac\u2122s 27.3 percent figure, but was up slightly from the 26.3 percent reported in July 2010.
\n\u00e2\u20ac\u00a2\u00c2\u00a0Non-distressed sales made up the remaining share of home sales in July at 55.5 percent, up from 53.1 percent in June and 52.3 percent in July 2010.<\/p>\n

Multimedia:<\/p>\n

\u00e2\u20ac\u00a2\u00c2\u00a0View a video<\/a>\u00c2\u00a0of Sara Sutachan, C.A.R.\u00e2\u20ac\u2122s senior research analyst, discussing highlights of the July existing home sales and price report, which was released August 15.
\n\u00e2\u20ac\u00a2\u00c2\u00a0View a chart<\/a>\u00c2\u00a0of pending sales compared with closed sales.<\/p>\n

Share of Distressed Sales to Total Sales
\n(Single-family)<\/p>\n\n\n\n\n\n\n\n
Type of Sale<\/strong><\/td>\nJul-10<\/strong><\/td>\nJun-11<\/strong><\/td>\nJul-11<\/strong><\/td>\n<\/tr>\n
REOs<\/td>\n26.30%<\/td>\n27.30%<\/td>\n26.70%<\/td>\n<\/tr>\n
Short Sales<\/td>\n20.90%<\/td>\n19.30%<\/td>\n17.50%<\/td>\n<\/tr>\n
Other Distressed Sales (Not Specified)<\/td>\n0.50%<\/td>\n0.40%<\/td>\n0.30%<\/td>\n<\/tr>\n
Total Distressed Sales<\/strong><\/td>\n47.70%<\/strong><\/td>\n46.90%<\/strong><\/td>\n44.50%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Single-family Distressed Home Sales by Select Counties
\n(Percent of total sales)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
County<\/strong><\/td>\nJul-10<\/strong><\/td>\nJun-11<\/strong><\/td>\nJul-11<\/strong><\/td>\n<\/tr>\n
Amador<\/td>\n59%<\/td>\n51%<\/td>\n55%<\/td>\n<\/tr>\n
Butte<\/td>\n28%<\/td>\n34%<\/td>\n43%<\/td>\n<\/tr>\n
Humboldt<\/td>\n27%<\/td>\n29%<\/td>\n27%<\/td>\n<\/tr>\n
Kern<\/td>\n69%<\/td>\n66%<\/td>\nNA<\/td>\n<\/tr>\n
Lake<\/td>\n56%<\/td>\n86%<\/td>\n73%<\/td>\n<\/tr>\n
Los Angeles<\/td>\n47%<\/td>\n47%<\/td>\n42%<\/td>\n<\/tr>\n
Madera<\/td>\n65%<\/td>\n83%<\/td>\n86%<\/td>\n<\/tr>\n
Marin<\/td>\n19%<\/td>\n26%<\/td>\n25%<\/td>\n<\/tr>\n
Mendocino<\/td>\n71%<\/td>\n63%<\/td>\n61%<\/td>\n<\/tr>\n
Merced<\/td>\n62%<\/td>\n64%<\/td>\n71%<\/td>\n<\/tr>\n
Napa<\/td>\n40%<\/td>\n51%<\/td>\n51%<\/td>\n<\/tr>\n
Orange<\/td>\n35%<\/td>\n35%<\/td>\n32%<\/td>\n<\/tr>\n
Riverside<\/td>\n67%<\/td>\n61%<\/td>\n62%<\/td>\n<\/tr>\n
Sacramento<\/td>\n62%<\/td>\n65%<\/td>\n60%<\/td>\n<\/tr>\n
San Bernardino<\/td>\n72%<\/td>\n69%<\/td>\n65%<\/td>\n<\/tr>\n
San Diego<\/td>\n26%<\/td>\n28%<\/td>\n26%<\/td>\n<\/tr>\n
San Luis Obispo<\/td>\n41%<\/td>\n42%<\/td>\n42%<\/td>\n<\/tr>\n
Solano<\/td>\nNA<\/td>\n72%<\/td>\n70%<\/td>\n<\/tr>\n
Sonoma<\/td>\n43%<\/td>\n51%<\/td>\n46%<\/td>\n<\/tr>\n
Tehama<\/td>\n77%<\/td>\n73%<\/td>\n72%<\/td>\n<\/tr>\n
California\u00c2\u00a0<\/strong>(rounded)<\/td>\n48%<\/strong><\/td>\n47%<\/strong><\/td>\n45%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*Note:\u00c2\u00a0 C.A.R.\u00e2\u20ac\u2122s pending sales information is generated from a survey of more than 70 associations of REALTORS\u00c2\u00ae and MLSs throughout the state.\u00c2\u00a0 Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market.\u00c2\u00a0 A sale is listed as pending after a seller has accepted a sales contract on a property.\u00c2\u00a0 The majority of pending home sales usually becomes closed sales transactions one to two months later.\u00c2\u00a0 The year 2008 was used as the benchmark for the Pending Homes Sales Index.\u00c2\u00a0 An index of 100 is equal to the average level of contract activity during 2008.<\/p>\n

Leading the way…\u00c2\u00ae in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS\u00c2\u00ae (www.car.org) is one of the largest state trade organizations in the United States, with more than 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
\n# # #<\/p>\n

Original article available at\u00c2\u00a0http:\/\/www.car.org\/newsstand\/newsreleases\/2011newsreleases\/julpendinghmsales\/#<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For release: August 23, 2011 Fewer distressed property sales in July; California pending home sales decline, C.A.R. reports LOS ANGELES (Aug. 23) \u00e2\u20ac\u201c California pending home sales dipped in July, as did the share of sales of distressed properties, the CALIFORNIA ASSOCIATION OF REALTORS\u00c2\u00ae (C.A.R.) reported today. Pending home sales: Pending home sales in California … <\/p>\n

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