California December Home Sales

January 23, 2006

A total of 52,800 new and resale houses and condos were sold statewide last month. That's up 3.0 percent from 51,250 for November and down 9.7 percent from 58,500 for December 2004. An increase from November to December is normal for the season.

The median price paid for a home last month was $458,000. That was the same as November's peak. It was up 13.1 percent from $405,000 for December a year ago. Last month's year-over-year increase was the lowest since a 12.4% increase in March 2003 when the median reached $290,000. Prices increased at their fastest rate in June 2004 when the $382,000 median was up 23.2% from the same month a year before.

The typical mortgage payment that home buyers committed themselves to paying last month was $2,156, a new peak. That was up from $2,140 in November, and up from $1,785 for December 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.

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