California November Home Sales

December 19, 2005

A total of 51,250 new and resale houses and condos were sold statewide last month. That's down 4.6 percent from 53,700 for October and down 3.8 percent from 53,250 for November 2004. A decline from October to November is normal for the season.

The median price paid for a home last month was $458,000. That was up 0.9 percent from $454,000 for October and up 15.1 percent from $398,000 for November a year ago.

The typical mortgage payment that home buyers committed themselves to paying last month was $2,140, a new peak. That was up from $2,081 in October, and up from $1,755 for November 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. Earlier increases in non owner-occupied purchase activity and flipping activity have leveled off.

Media Inquiries: John Karevoll (909) 867-9534

Copyright © 2005 DataQuick Information Systems.
All rights reserved.