Consumers and specially people that are trying to buy, rent, or refinance their homes; save their homes from foreclosure; or sell their properties might hear some different stories and feel differently about the news and how they might be affected by it. Here is an interesting article worth a few minutes of your time:
California housing production increases in October
California housing production increased for the third consecutive month in October as builders pulled permits for 17 percent more housing units when compared to October 2010, the California Building Industry Association recently announced.
According to statistics compiled by the Construction Industry Research Board (CIRB), permits were pulled for 2,782 total housing units in October, up 17 percent from the same month a year ago but down 26 percent from September. Permits for single-family homes totaled 1,444, down 4 percent from October 2010 and down 8 percent from the previous month, while multifamily permits totaled 1,338, up 54 percent from a year ago but down 38 percent from September.
For the first ten months of the year, permits were pulled for 37,274 total units, up 7 percent when compared to the first ten months of 2010, when 34,745 permits were issued. Permits for single-family homes were down 14 percent, while permits for multifamily units were up 38 percent…
California Fast Facts:
California median home price: October 2011: $278,060 (Source: C.A.R.)
Calif. highest median home price by region/county October 2011: Marin: $781,250 (Source: C.A.R.)
Calif. lowest median home price by region/county October 2011: Lake County: $96,500 (Source: C.A.R.)
Calif. Pending Home Sales Index: October 2011: 122., an increase of 3.1 percent compared with a prior year.
Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)