San Francisco Real Estate - Residential

Fast Facts from CAR and Freddie Mac - May 2007

The May report for home prices in California are finally in. As mortgage rates keep creeping up, the California market is slowing down. Though interest rates are still fairly conservative, all things considered, it might take time before consumers adjust to the new higher rates... provided they stop rising!

As you can see from the numbers, the median price dropped from last month meaning that other parts of California are having a harder time of it than we are here in the San Francicso Bay Area. Look for our July report with June's figures to be released this weekend on our website. We think you will see why San Francisco real estate continues to be a great investment!

Calif. median home price - May 07: $591,180 (Source: C.A.R.) (note: compared to $597,640 last month)

Calif. highest median home price by C.A.R. region May 07: Santa Barbara So. Coast $1,325,000 (Source: C.A.R.) (note: compared to $1,475,000 last month)

Calif. lowest median home price by C.A.R. region May 07: High Desert $313,550 (Source: C.A.R.) (note: compared to $317,420 last month)

Calif. First-time Buyer Affordability Index - First Quarter 07: 25 percent (Source: C.A.R.) (note: compared to 25 percent last month)

Mortgage rates - week ending 6/21:

• 30-yr. fixed: 6.69%; Fees/points: 0.5% (note: compared to 6.37% and 0.4% points last report)
• 15-yr. fixed: 6.37%; Fees/points: 0.5% (note: compared to 6.06% and 0.4% points last report)
• 1-yr. adjustable: 5.66%; Fees/points: 0.7% (note: compared to 5.64% and 0.6% points last report)

- California Association of Realtors & Freddie Mac

posted by SFResidence.com @ 7:25 AM