Friday Facts June 10, 2011

FRIDAY FACTS
June 10, 2011

NAR reports that nationally, pending home sales fell 11.6% this April compared with March. They fell 26.5% comparing April 2011 with April 2010. In the Northeast, pending sales rose 1.7% in April compared with March, but fell 33.4% in April 2011 compared with April 2010. In Barnstable County, pending single family sales fell 18.3% this April compared with last April.

Inman News reports that real estate investors are likely to be three times more active than other types of home buyers in their local markets in the next two years

Inman also notes that housing affordability hit a new record high in the first quarter of 2011. Nationwide, 74.6% of homes sold were affordable to families earning the national median income of $64,400.

The latest Case-Schiller Housing Data shows that U.S. home prices fell to 2002 levels in March.

RIS Media had an article on International buyers in the U.S. 30.8% came from Europe. 27.5% came from North America. 25.2% came from Asia. The rest were from Latin America, Africa and Oceania. 69% of their purchases were single family homes, 18% were condos. They paid on average 20% more than the domestic buyer and 45% paid cash.

An article in Inman News indicated that foreclosure sales were 28% of U.S. home sales in the first quarter of this year and that those properties sell on average 27% less than non-foreclosed properties.