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You are here: Home / California / California pending homes sales up year over year, distressed still make up 44.9% of all sales statewide, in the Napa Valley it is 37.3%

California pending homes sales up year over year, distressed still make up 44.9% of all sales statewide, in the Napa Valley it is 37.3%

January 17, 2012 by Curtis Van Carter Leave a Comment

California pending home sales post higher for seventh straight month

California pending home sales fell 9.1 percent in November but were up from a year ago, according to C.A.R.’s Pending Home Sales Index (PHSI)*.  The index was 109.8 in November, based on contracts signed in that month, down from October’s index of a revised 120.9.  However, the index was up 11 percent from November 2010, marking the seventh consecutive month that pending sales rose from the previous year.

At 55.1 percent, equity sales made up more than half of home sales in November, up from 53.9 percent in October and 54.4 percent in November 2010.

The total share of all distressed property types sold statewide fell to 44.9 percent in November, down from October’s 46.1 percent and 45.6 percent in November 2010.

Of the distressed properties sold statewide in November, 21 percent were short sales, up slightly from the previous month’s share of 20.7 percent and up from last November’s share of 19 percent.

At 23.5 percent, the share of REO sales was down from October’s 24.9 percent, and down from the 26.2 percent reported in November 2010.

Here are the stats for distressed sales for Napa County:

Currently there are 836 properties for sale or in escrow for residential listing in my MLS, BAREIS. 82 of these are bank owned, a 9.8 percentage. When you add the short sales, in foreclosure and Notice of Default properties to bank owned, the total distressed properties, there are 312, a 37.3 percentage. REO’s sold during November 2010 were 29 of 115 total properties sold compared to November of 2011, 30 of 110.

from C.A.R. NewsLine

 

Thank you for reading this post. If I can ever be of help in finding you the perfect property here in the Napa Valley, please email me at Curtis@NapaValleyAddress.com

Your Broker Extraordinaire, selling Napa Valley Real Estate from its heart, Yountville

My website & blog: www.NapaValleyAddress.com

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Filed Under: California, Curtis Van Carter, Distressed Sales, RE Current Info Tagged With: California, Curtis Van Carter, Distressed Sales, RE Current Info

Curtis Van Carter, has been one of Napa Valley Real Estate's most knowledgeable and experienced agents. He has been characterized by his clients for his honesty and knowledge to make a home sale or purchase as smooth as possible. If you are interested in selling or listing a home please call or EMAIL Curtis here.

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