Year over Year Gains

June 22 - Pending home sales in California were flat from April but posted double-digit gains from the previous year for the fourth straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. Additionally, the share of distressed sales continued to decline from year-ago levels, signaling a return of non-investors to the housing market.

 “Despite a slowdown in economic growth ...in recent months, sales in California remain strong as record low mortgage rates and favorable home prices continue to fuel demand in the housing market,” said C.A.R. President LeFrancis Arnold. “The strong results in pending sales – double-digit year-over-year gains in the last nine out of 10 months – suggest solid housing market performance for the state in the upcoming months.”
Full Story: http://www.car.org/newsstand/newsreleases/2012releases/mayphsi

Interesting Housing Recovery Timeline

Home Prices Increase Month over Month in April

Home prices, including distressed sales, rose 2.2 percent in April on a month-over-month basis, marking the second consecutive month-over-month increase this year, according to a report by CoreLogic.Excluding distressed sales, prices increased 2.6 percent compared with March.  The CoreLogic Home Price Index (HPI) also shows that year-over-year prices, excluding distressed sales, rose 1.9 percent in April compared with the prior year. Distressed sales include short sales and real estate owned (REO) transactions.

Full Story: http://www.corelogic.com/about-us/researchtrends/home-price-index.aspx?WT.mc_id=MarHPIJanData_crlg_1e_hpr_1_120307