Wednesday, July 23, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Higher home prices buoy more underwater homes

By
From page HS6 | June 13, 2014 |

LOS ANGELES — Recent home price gains have lifted more underwater homes into positive territory, pushing the share of equity home sales to their highest level since late 2007.  At the same time, pending home sales were essentially unchanged in April, the California Association of Realtors recently reported.

Distressed housing market data

• The share of equity sales — or non-distressed property sales — continued to increase in April, rising to 88.4 percent in April, up from 87.6 percent in March. After a slight decline at the end of 2013, equity sales have been rising steadily again since the beginning of this year. April marks the 10th straight month that equity sales have been more than 80 percent of total sales. Equity sales made up 75.4 percent of sales in April 2013.

• The combined share of all distressed property sales continued to decline in April, thanks to a drop in short sales. The share of distressed property sales was down from 12.4 percent in March to 11.6 percent in April. Distressed sales continued to be down by more than 50 percent from a year ago, when the share was 24.6 percent.

• Twenty-six of the 41 reported counties showed a month-to-month decrease in the share of distressed sales, with 13 of the counties recording in the single-digits, including Alameda, Marin, San Benito, San Diego, San Luis Obispo, San Mateo and Santa Clara counties — all of which registered a share of 5 percent or less.

• Of the distressed properties, the share of short sales dropped to levels last observed in April 2008 at 5.9 percent, down from 6.6 percent in March. April’s figure was nearly a third of the 14.7 percent recorded in April 2013.

• The share of REO sales only dipped slightly in April to 5.3 percent, down from 5.4 percent in March. REO sales are now nearly half of what they were a year ago, when REOs made up 9.4 percent of all sales in April 2013.

• A drop in active listings of equity and REO properties tightened the housing supply in April, causing a decline in unsold inventory across all property types. The Unsold Inventory Index for equity sales dropped from 4 months in March to 3.6 months in April. The supply of REOs slipped from 2.8 months in March to 2.3 months in April, and the supply of short sales declined from 4.7 months in March to 4.4 months in April.

Pending home sales data

• California pending home sales were essentially unchanged from March, with the Pending Home Sales Index dipping 0.5 percent from 114.4 in March to 113.8 in April, based on signed contracts. The month-to-month change was substantially lower than the 6.5 percent drop from March to April observed in the last three years.

• Pending sales were down 6 percent from the revised 121.1 index recorded in April 2013. The year-over-year decline in the PHSI has been tapering over the past few months and should level off in the coming months. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

Comments

comments

.

News

Six file for Dist. 2

By Dawn Hodson | From Page: A1

 
District 2 candidates forum Aug. 14

By News Release | From Page: B1

EID ditch customers get relief

By Michael Raffety | From Page: A1

 
Veterans receive wildland fire training

By News Release | From Page: B1

Market data open for local biz

By Ross Branch | From Page: B1

 
Heard over the back fence: Attorney to warn about scams

By Bob Billingsley | From Page: B1

 
Road zone of benefit protester reaches dead end

By Dawn Hodson | From Page: A1 | Gallery

Volunteers clean up national forest

By News Release | From Page: A3 | Gallery

 
.

Opinion

My turn: Special interests at EID

By Special to the Democrat | From Page: A4

 
Russian metastasis

By Mountain Democrat | From Page: A4

The Democratic-Chronicles: Not invented here

By Gene Altshuler | From Page: A4

 
.

Letters

DA hogging Main St. parking

By Letters to the Editor | From Page: A5

 
CAO and staff hiring friends

By Letters to the Editor | From Page: A5

Altshuler’s hypocrisy

By Letters to the Editor | From Page: A5

 
Small Farm compromise

By Letters to the Editor | From Page: A5

EID and Dale Coco

By Letters to the Editor | From Page: A5

 
.

Sports

Roundup: July 22, 2014

By Democrat Staff | From Page: A6

 
Dolphins ring up another title

By Democrat Staff | From Page: A6 | Gallery

Sharks defeat Loomis Basin in season finale

By Democrat Staff | From Page: A6 | Gallery

 
Celebrity golf at Tahoe

By Democrat Staff | From Page: A6 | Gallery

Dodgeball: Not the national pastime but …

By Shane Theodore | From Page: A7 | Gallery

 
.

Prospecting

At a glance: Comets to meteors

By Mimi Escabar | From Page: B2

 
Taste the best at the State Fair

By Democrat Staff | From Page: B2 | Gallery

Tractor Supply Store recognized

By Uc Cooperative | From Page: B3

 
Amador Fair honors cowboys

By Amador County Fair | From Page: B3

 
Arbor Day book helps to identify trees

By Arbor Day | From Page: B4

Learn about lavender and its many benefits

By Christian Women's Connection | From Page: B4

 
Lee’s Feed appreciates customers

By Democrat Staff | From Page: B5

 
My Time meeting in August

By Senior Day | From Page: B5

Builders’ Exchange honors scholars

By El Dorado Builders' Exchange | From Page: B5

 
En garde at Silver Screen Classic

By Auburn Silver Screen | From Page: B5

.

Essentials

Weather stats 7-22-14

By Michael Raffety | From Page: A2

 
Crime Log: July 8-10

By Cole Mayer | From Page: A2

.

Obituaries

Walter Vali

By Contributor | From Page: A2

 
Jean Lachelle Taylor

By Contributor | From Page: A2

Arthur J. Funston

By Contributor | From Page: A2

 
.

Real Estate

.

Comics

Shoe

By Contributor | From Page: A8

 
Sudoku

By Contributor | From Page: A8

Rubes

By Contributor | From Page: A8

 
New York Times Crossword

By Contributor | From Page: A8

Flying McCoys

By Contributor | From Page: A8

 
Speed Bump

By Contributor | From Page: A8

Tundra

By Contributor | From Page: A8

 
Horoscope, Thursday, July 24, 2014

By Contributor | From Page: A8

Horoscope, Wednesday, July 23, 2014

By Contributor | From Page: A8

 
Working It Out

By Contributor | From Page: A8

TV Listings

By Contributor | From Page: A8