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Monthly Archives: January 2010

Housing Momentum Builds but Perils Persist

There’s new evidence the housing market is healing after a four-year slump, but the danger of further price drops remains amid persistent job-market weakness, according to The Wall Street Journal’s quarterly housing survey. Inventories of homes listed for sale are down sharply across the U.S. and have reached very low levels in some areas, including Read More

California’s Home Inventory Shrinks To 5-Year Low

California’s inventory of unsold, previously owned homes shrank to a five-year low in December, in another sign that the state may be coming out of its worst housing slump in decades. The supply of unsold single-family homes dropped to 3.8 months from 5.6 months a year ago and 16.6 months in January 2008, when inventories Read More

Mortgage Rates Back Below 5%, Freddie Mac Says

Freddie Mac’s widely watched survey of the mortgage market is out this morning with another round of good news for borrowers: The third straight week of falling interest rates has taken the 30-year fixed loan below 5% again. It’s hard not to wonder how long this can last. According to Freddie Mac, the rate on Read More

California Home Prices Inch Up In December

California home prices ticked up 1.1% in December from the month prior, according to data released today, continuing a slow but steady trend of improvement for the Golden State’s housing market. The median price paid for a home in December was $264,000, up from $261,000 in November, and up 6% from $249,000 for December 2008, Read More

Going to sell the house? Don’t wait for ‘spring’ in February

PASADENA – Two years ago, owning a three-bedroom craftsman home in Pasadena was a dream Arturo and Olga Avon could never hope to attain. Today, with the median home price lower than it has been for at least five years, the Pasadena couple – and many others like them – got a rare crack at Read More