The confidence level of the nation’s home builders continues to decline in 2006, falling this month to its lowest reading since April 1995, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The seasonally adjusted HMI stands at 42, down four points from May’s revised reading of 46. An HMI above 50 [...]

 California median home price - April 06: $562,380

California highest median home price by C.A.R. region April 06:
Santa Barbara South Coast $1,250,000

California lowest median home price by C.A.R. region April 06:
High Desert $334,860  
 

Mortgage rates - week ending 6/15:
30-yr. fixed: 6.63%; Fees/points: 0.5%
15-yr. fixed: 6.25%; Fees/points: 0.6%
1-yr. adjustable: 5.66%; Fees/points: 0.6%
    
(Source: C.A.R. / Freddie Mac)

The seasonally adjusted annual rate for privately owned housing starts declined to1.96 million units in May, according to a report released by the U.S. Dept. of Commerce. May’s construction pace was down 3.8 percent from a year ago. Single-family housing starts decreased 7.6 percent from May 2005, to a rate of 1.59 million units, while [...]

Healthy demand for space is driving commercial real estate markets with solid fundamentals and strong investment activity, according to the National Association of Realtors.
David Lereah, NAR’s chief economist, said fundamentals are improving with tightening vacancies. “Rent growth in commercial space is gaining traction, although there is some softness in part of the retail sector,” he [...]

California median home price - April 06: $562,380
California highest median home price by C.A.R. region April 06:
Santa Barbara So. Coast $1,250,000
California lowest median home price by C.A.R. region April 06:
High Desert $334,860
Mortgage rates - week ending 6/8:
30-yr. fixed: 6.62%; Fees/points: 0.5%
15-yr. fixed: 6.23%; Fees/points: 0.5%
1-yr. adjustable: 5.63%; Fees/points: 0.8%
(Source: Freddie Mac / CAR)

The nation’s home builders anticipate the value of the residential green building marketplace to grow from $7.4 billion in 2005 to more than $19 billion by 2010, according to the “Residential Green Building SmartMarket Report,” a joint study from McGraw-Hill Construction and the National Association of Home Builders. According to the report, the number of [...]

The annual pace of construction spending topped $1 trillion for the 22nd consecutive month in April 2006, rising 8.5% to an annual rate of $1.19 trillion, according to a recent report by the U.S. Census Bureau. Construction spending totaled $349.3 billion during the first four months of 2006, up 8.9% over construction spending during the [...]

New home construction in California declined during April 2006, falling 20.6% when compared with the construction pace recorded one year earlier, the California Building Industry Association recently reported. Based on the number of building permits issued, nearly 14,600 new housing units were started throughout the state in April, with single-family units accounting for 76.2% of [...]

California median home price - April 06: $562,380 (Source: C.A.R.)
California highest median home price by C.A.R. region April 06:
Santa Barbara So. Coast $1,250,000 (Source: C.A.R.)
California lowest median home price by C.A.R. region April 06:
High Desert $334,860 (Source: C.A.R.)
Mortgage rates - week ending 6/1:
30-yr. fixed: 6.67%; Fees/points: 0.4%
15-yr. fixed: 6.26%; Fees/points: 0.4%
1-yr. adjustable: 5.68%; Fees/points: 0.7%

For the fifth consecutive year, President Bush has proclaimed June “National Homeownership Month.” Throughout the month, organizations across the nation, including Realtor associations, will participate in activities that help raise awareness of homeownership and encourage more Americans to consider the benefits of owning their own home.
In his proclamation, President Bush stated: “During National Homeownership Month [...]