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If California is a setter of future real estate trends — as it has been in the past — a report that foreclosures in the Golden State fell to the lowest level since 2006 is good news for the entire nation. According to San Diego-based DataQuick, the number of California homeowners pushed into the foreclosure process fell last quarter to the lowest level in six years, the result of rising home values, an improving economy and a shift toward short sales. During fourth-quarter 2012 lenders recorded a total of 38,212 Notices of Default (NoDs) on California houses and condos. That

Sales of existing homes slipped 1 percent in the month of December as strict mortgage lending standards and scant inventory restricted sales, according to data on the latest real estate market trends released today by the National Association of Realtors. Total existing homes, including single-family homes, townhomes, condominiums and co-ops declined to a seasonally adjusted annual rate of 4.94 million, according to the association, but the pace 12.8 percent higher than that for December 2011. Total existing home sales were 4.65 million in 2012, a year-over-year increase of 9.2 percent, according to the association, which tracks overall positive real estate

California’s median home price struck a four-year high for a December, indicating housing will probably continue to mend in the new year. The statewide median popped 21.5% from December 2011 to hit $299,000, real estate research firm DataQuick reported Wednesday. Last month’s gain adds to a housing recovery that began in earnest last year after foreclosures declined, housing inventory plummeted, mortgage interest rates hit record lows and demand from investors surged last year. Video: Experts discuss Southern California’s housing market “Prices are in the midst of bouncing off bottom right now, and nobody really knows what the trajectory of this

After years of declining home values and a buyers’ market, 2013 could be the year of the seller. Though the situation varies by region, we’ve seen a glimmer of hope for sellers and the housing market in general over the past six months. Homes that didn’t move for a year started getting activity as buyers came off the sidelines, their confidence in the housing market and their financial situations greatly improved. That confidence, coupled with record low interest rates and rising rents, has been the fuel the real estate market needed. Add to this the low inventory seen in many markets, and you’ve got

When housing prices first went off the cliff, most mortgage lenders refused to cut deals with homeowners, choosing instead to repossess homes on a grand scale. Five years and billions of dollars in losses later, many banks can’t cut those deals fast enough, writing off large chunks of mortgage debt and even paying homeowners to move out. In recent months, short sales — in which banks allow homeowners to sell for less than they owe — have surpassed sales of foreclosed homes in California for the first time since the start of the housing crash in 2007, according to real

If you’re looking for the source of this year’s home price recovery, look West. Western cities are recovering strongly after being hit hardest during the real estate bust. The trend was confirmed Tuesday with the release of the Standard & Poor’s/Case-Shiller index of 20 large cities. The index was down 0.1% in October from September but up 4.3% compared with October 2011. San Francisco and Phoenix have both rebounded from their most recent lows. The two cities are up 22.5% and 22.1%, respectively. The improvement in those two cities illustrates distinct real estate trends on the West Coast. The San

Citing increased demand, strained inventory, record-low mortgage rates and robust investor interest, a real estate information service reported this month that Santa Clara County continued its rise in this fall. DataQuick reported that the median home price in Santa Clara County rose to $550,000 in November, up 21.7 percent from $452,000 a year earlier. A total of 1,478 homes were sold in November, up 15.5 percent from 1,707 in November 2011. The rise of the median home price in Santa Clara County had some individual cities showing remarkable spikes, according to DataQuick’s city data for October. In Palo Alto, for

U.S. home prices will likely continue rising in 2013, according to the latest round of predictions from Freddie Mac. The government-controlled mortgage giant expects the U.S. house price index to rise by 2% to 3% in 2013. On December 11, 2012, Freddie Mac published the latest installment of their U.S. Economic and Housing Market Outlook. The monthly report compiles economic data from a variety of sources and makes forecasts based on that information. According to the latest report, all major house price indexes (HPIs) are now showing year-over-year price gains. They cited 4.5% appreciation reported by the Federal Housing Finance

Up-trending home prices are seen as a great sign by most people involved in real estate, because they instill a sense of comfort that, financially speaking, the market can return to the glory days prior to its collapse. But the sad truth is, there are more factors than home prices that affect real estate’s health, no matter how encouraging the rise may be.  Still, the trend doesn’t keep sellers and property owners from wishfully believing that they’ve regained some form of control as if the balance has shifted back toward their favor. Unfortunately for them, the main reason for price