California October Home Sales

November 17, 2005

A total of 53,700 new and resale houses and condos were sold statewide last month. That's down 9.9 percent from 59,600 for September and down 1.1 percent from 54,300 for October 2004. A decline from September to October is normal for the season.

The median price paid for a home last month was $454,000. That was down 0.2 percent from $455,000 for September and up 14.9 percent from $395,000 for October a year ago.

The typical mortgage payment that home buyers committed themselves to paying last month was $2,081, a new peak. That was up from $2,004 in September, and up from $1,745 for October a year ago.

DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. The numbers cover all sales, new and resale, houses and condos.

Market stress indicators are still very low: Down payments are stable, speculation buying is moderate, there are no significant shifts in market mix and default rates are low. A recent rise in ARM usage has declined slightly. Earlier increases in non owner-occupied purchase activity and flipping activity have leveled off.

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