Marin Real Estate Pulse

The following chart shows statistics from January 2006 through August 2006, month-by-month and compares them to the same months for 2005.  I have also shown the aggregate for the months, both for 2005 and 2006, because sometimes looking at one month only does not really show the whole trend.
 The one sure trend that shows is the number of sales are down.   

Marin County MLS 2006 Residential Real Estate Stats
For Homes Sold	6-Jan	6-Feb	6-Mar	6-Apr	6-May	6-Jun
Median Price in 1,000’s	810	810	880	899	855	932
Median days on market	64	72	40	32	34	38
Total units sold	143	150	265	263	266	325
					6-Jul	6-Aug
					850	890
					43	50
					230	298
Lets look at the same time period for 2005
For Homes Sold	5-Jan	5-Feb	5-Mar	5-Apr	5-May	5-Jun
Median Price in 1,000’s	825	813	860	865	875	900
Median days on market	45	29	26	29	27	29
Total units sold	209	148	307	338	325	367
					5-Jul	5-Aug
					861	840
					30	36
					314	346
Now looking at the months combined.
For Homes Sold	Jan-Aug 05	Jan-Aug 06
Median Price in 1,000’s	860	876
Median days on market	30	42
Total units sold	2354	1940

 

Two monthly housing market indicators have been released so far this week, both relating broadly to home construction and showing a continued slowing of the housing sector and a related loss of builder confidence.

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The results are too subtle (and also presented in an incredibly confusing format) to determine if rate shock is starting to take its toll on American homeowners, but, looking beyond the cheerful lead paragraph, "The delinquency rates for mortgage loans ...were down 2 basis points from the first quarter..." The National Delinquency Study (NDS) released by The Mortgage Bankers Association this week is a little disquieting.

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Mortgage rates reversed a six week downward trend, increasing slightly during the week ended September 7 according to the Weekly Primary Mortgage Market Survey released by Freddie Mac.

Frank Nothaft, Freddie Mac vice president and chief economist said "We expect that mortgage rates will continue to fluctuate as new economic data are released, but...

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"A Cooling Trend" was the title given to Freddie Mac's September 2006 Economic Outlook released recently. In keeping with the seasonal theme, the report, issued by the Office of the Chief Economist, projected a cooling trend for the balance of the year, "with occasional frost and warmer conditions as we move into next spring." Too cute by half, but the report goes on to emphasize the importance the housing sector has been to the overall economy during the recovery from the 2001 recession. In fact... Read More Now

The concept of href="http://www.mortgagenewsdaily.com/8242006_Rate_Shock.asp" mce_href="http://www.mortgagenewsdaily.com/8242006_Rate_Shock.asp">rate shock is getting a lot of press and a portion of it is pretty scary. BusinessWeek.com has just published a stunning article that postulates that the fallout from "exotic" mortgages - i.e. interest only and option mortgages - will reach far beyond homeowners who took on these obligations either not understanding the ramifications or thinking they could game the system. According to the article Nightmare Mortgages... Read More Now

Warren Carreiro, Broker
Frank Howard Allen Realtors
700 Fifth Avenue
San Rafael, CA 94901

Warren@TheMarinRealtor.com

www.TheMarinRealtor.com
 p: 415-846-7286
 f:  415-457-2359
 I appreciate your business, support and referrals.
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