San Francisco Real Estate - Residential

Fast Facts from CAR and Freddie Mac - August 2007

Looking at the numbers below, you will see that, despite the gloom and doom of the media reports on housing slumps and mortgage problems with sub-prime loans, real estate in California is alive and doing well. What we have noticed is that when the news reports record foreclosures the story is invariably about people having problems in other states like Texas, Florida or Michigan. Fortunately for us, San Francisco real estate is still strong!

- Janis Stone

Calif. median home price - August 07: $588,970 (Source: C.A.R.) (note: compared to $586,030 last month)

Calif. highest median home price by C.A.R. region August 07: Santa Barbara So. Coast $1,262,500 (Source: C.A.R.) (note: compared to $1,100,000 last month)

Calif. lowest median home price by C.A.R. region August 07: High Desert $287,390 (Source: C.A.R.) (note: compared to $296,220 last month)

Calif. First-time Buyer Affordability Index - Second Quarter 07: 24 percent (Source: C.A.R.) (note: compared to 07:24 last quarter)

Mortgage rates - week ending 9/20:

• 30-yr. fixed: 6.34%; Fees/points: 0.5% (note: compared to 6.46% and 0.5% points last report)
• 15-yr. fixed: 5.98%; Fees/points: 0.5% (note: compared to 6.15% and 0.5% points last report)
• 1-yr. adjustable: 5.65%; Fees/points: 0.6% (note: compared to 5.74% and 0.6% points last report)

posted by SFResidence.com @ 7:41 AM