From RealTrends.com: Following a month that saw the first year-over-year improvement in four years, August results in the REAL Trends Housing Market Report were level with August 2008. While these results were not as good as the July results-where unit sales had been up marginally-it does show that the floor of housing unit sales may have been reached. Nationally, unit sales were down 0.2% in August 2009 over August 2008. The Western region again showed the greatest strength with unit sales up 7% while the South region lagged other regions with unit sales down 3.3%. On the pricing front, the South showed the best results with average prices for all homes sold down 9.5% while the Western region continued to suffer the largest price declines with a decrease of 18.2%.
Marion Skubi
Positive Signs – House Price Declines Continue to Moderate
RISMEDIA, September 8, 2009—House prices in the U.S. continued to depreciate in the second quarter 2009 but at a much more moderate rate compared to the fourth quarter 2008, the peak of the collapse in home prices, according to a quarterly housing valuation analysis by IHS Global Insight. Prices fell at a 2.7% annualized rate in the second quarter 2009, compared to 2.1% in the first quarter and a 12.5% rate of decline in the fourth quarter 2008, according to the new House Prices in America, the quarterly U.S. housing valuation analysis from IHS Global Insight, one of the world’s leading companies for economic and financial analysis and forecasting. Nationally, house prices have fallen 11.0%, on average, below their peak in the spring of 2007; when weighted by market value, the nation is now 11.1% undervalued, and 12.6% undervalued when weighted by housing units.
Quarterly Home Prices Rise 1.7%
From RealTrends.com: Average prices paid for homes purchased in the second quarter with mortgages bought by Fannie Mae and Freddie Mac rose 1.7 percent from the previous quarter and for the first time in two years, prices rose in all nine regions Freddie Mac monitors.
Pending Home Sales on a Roll, Up for Sixth Straight Month
August
August 2009 Sales YTD Avg List Price Avg Sale Price Sales August 2008 Value of the Month Las Campanas 30 1,146,547 1,058,780 29 Northwest County 43 733,312 688,488 49 Historic Eastside 80 663,763 609,218 84 Tesuque 5 1,522,600 1,409,400 15 Santa Fe City 697 472,879 443,348 910 Santa Fe County 726 466,577 437,528 952
Mortgage Rates Fall to Lowest Level in Months
Mortgage rates fell to their lowest level in three months, according to Freddie Mac’s Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 5.12 percent with an average 0.7 point for the week ending August 20, 2009, down from last week when it averaged 5.29 percent. Last year at this time, the 30-year FRM averaged … Read more
Parade of Homes Resumes Thursday
Haciendas – A Parade of Homes is the largest Real Estate Event in Santa Fe, New Mexico. You’re invited to take a self-guided tour of new and remodeled homes in every price, ranging from the affordable to the luxurious. Don’t miss Santa Fe’s best open house. This year, over 28 homes will be on tour. Our listings at Silver Mesa in Las Campanas will be open during Parade this year. Come by and to view these splendid homes, and say “Hi”!
2009 Santa Fe Indian Market This Weekend!
Schedule of Events:
Please Note: Some of these events are Ticketed Events. For ticket information please contact SWAIA at (505) 983-5220
Indian Arts and Culture Week Press Preview and Ribbon Cutting Ceremony Hotel Santa Fe 1501 Paseo De Peralta, Santa Fe, NM 87501 (800) 825-9876 Tuesday, August 18, 9:00 AM – 10:00 AM
Breakfast with the Curators: Talk by Dr. Bruce Bernstein (Ticketed Event) Museum of Indian Arts and Culture 710 Camino Lejo off Old Santa Fe Trail (505) 476-1250 Wednesday, August 19, 8:30 AM – 10:00 AM $25 Per Person. $20 per MNNF Member…
Pending Home Sales up for Fifth Consecutive Month
Las Campanas Home Sales Up
While YTD sales in other areas are down compared to last year, Las Campanas sales are up. 27 homes have sold through July 31st, compared to 24 last year. See our July Market Report for more information.