Foreclosure and short sale Sales were down last week vs. two weeks ago.
Distressed properties were 29% vs. 40% a year ago the peak in August 2008.
Steve Thomas, Altera Real Estate, has estimated the market time for homes listed under $1 million at 2 months and over $1 million at 14.44 months.
These situational factors follow an increase of home prices in May for the first time since summer 2006 in the 20-city index of Standard & Poor’s Case-Shiller. This the fourth consecutive month the index indicated prices are turning and moving into positive territory.
The index is down more than 32% at its 3 year peak. Now, the direction is moving toward mid 2003 levels.
Laguna Hills’, CA Median Selling Price (MSP) $375,000 is up 20.6% in June from 1 year ago. The California Association of Realtors indicated this MSP increase was the largest in the State for June.
