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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Cal. Licensee/examinee Statistics Shows Drop
Posted on 05/15/2008 05:21:35 | Link | Post Comment
Number of home sales up in April
from the Phoenix Business Journal, reports that home sales around the Valley have shown year-over-year improvement for the first time in nearly 3 years. April saw 5,585 home sales, in contrast to 4,855 a year earlier and 4,335 in March 2008, according to Arizona State University's Realty Studies department. Overall, this is the first year-over-year improvement since July 2005. The drop in median home prices is helping to lead the turnaround. In Maricopa County, the median home price declined from $220,000 in March to $210,000 in April, in contrast to last year's $265,000 median in April. In April 2007, 41% of resale homes sold for more than $300,000, compared with only 24% in April 2008. The report also shows that homes selling for less than $200,000 have increased from last year's 16% to 44% of the local resale housing market.
Mortgage application volume up slightly
from CNNMoney.com, reports that according to the Mortgage Bankers Association's weekly application survey, mortgage application volume rose 2.9% during the week ending May 9. The MBA's application index increased to 674.4 during the week, compared with 655.4 the previous week. During the week, refinance volume increased 6.5%, while purchase volume fell 0.7%. Refinance volume accounted for 48.7% of total mortgage applications during the week ending May 9. The average rate for traditional, 30-year fixed-rate mortgages fell to 5.82% from 5.91% the previous week. Often a popular option for refinancing, the 15-year fixed-rate mortgage rage fell to 5.38% from 5.49%. The one-year adjustable-rate mortgage average interest rate fell to 6.6% from 6.77%.
Drop in California real estate licenses continues
California Department of Real Estate statistics show that the number of real estate licenses has plateaued. But even though the number of licensees has decreased for a fourth consecutive month, the total remains close to record levels.
Real estate licenses peaked in November at 549,244. That’s 1.5 licenses for each house sold in the state in all of 2007 by the California Association of Realtors’ count. Licensee numbers have decreased steadily since then, falling to 546,247 in March, the latest DRE number out.
California real estate licenses soared during the housing boom, and people continued taking the state license exam in near-record numbers for a year after sales began to slump. Professionals say that their colleagues have now been forced to leave the business in droves, taking full-time jobs elsewhere. But many are keeping their licenses active and staying in local Realtor associations, either working part-time as agents or hoping to return to the business when the slump ends.
from the Phoenix Business Journal, reports that home sales around the Valley have shown year-over-year improvement for the first time in nearly 3 years. April saw 5,585 home sales, in contrast to 4,855 a year earlier and 4,335 in March 2008, according to Arizona State University's Realty Studies department. Overall, this is the first year-over-year improvement since July 2005. The drop in median home prices is helping to lead the turnaround. In Maricopa County, the median home price declined from $220,000 in March to $210,000 in April, in contrast to last year's $265,000 median in April. In April 2007, 41% of resale homes sold for more than $300,000, compared with only 24% in April 2008. The report also shows that homes selling for less than $200,000 have increased from last year's 16% to 44% of the local resale housing market.
Mortgage application volume up slightly
from CNNMoney.com, reports that according to the Mortgage Bankers Association's weekly application survey, mortgage application volume rose 2.9% during the week ending May 9. The MBA's application index increased to 674.4 during the week, compared with 655.4 the previous week. During the week, refinance volume increased 6.5%, while purchase volume fell 0.7%. Refinance volume accounted for 48.7% of total mortgage applications during the week ending May 9. The average rate for traditional, 30-year fixed-rate mortgages fell to 5.82% from 5.91% the previous week. Often a popular option for refinancing, the 15-year fixed-rate mortgage rage fell to 5.38% from 5.49%. The one-year adjustable-rate mortgage average interest rate fell to 6.6% from 6.77%.
Drop in California real estate licenses continues
California Department of Real Estate statistics show that the number of real estate licenses has plateaued. But even though the number of licensees has decreased for a fourth consecutive month, the total remains close to record levels.
Real estate licenses peaked in November at 549,244. That’s 1.5 licenses for each house sold in the state in all of 2007 by the California Association of Realtors’ count. Licensee numbers have decreased steadily since then, falling to 546,247 in March, the latest DRE number out.
California real estate licenses soared during the housing boom, and people continued taking the state license exam in near-record numbers for a year after sales began to slump. Professionals say that their colleagues have now been forced to leave the business in droves, taking full-time jobs elsewhere. But many are keeping their licenses active and staying in local Realtor associations, either working part-time as agents or hoping to return to the business when the slump ends.
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