Posted by: Todd Long | December 26, 2008

Positive Angle-Talking Points about Real Estate

Regional Update: Good News from Markets around the Nation

Orlando, Fla.

Members of the Orlando Regional Realtor Association sold nearly 5% more homes in November than they did a year ago, as prices continued to drop to levels not seen since 2004, which has made more homes more affordable.

 

·         The number of pending sales also continued its five-month upward trend, rising to 3,326. That’s 84% more homes under contract than in November 2007, when 1,806 sales were under contract but not yet closed.

·         Luxury homes have been selling, too. Among the $224.9 million worth of residential property that Orlando Realtors closed on during the month were 17 homes that sold for more than $1 million apiece — the best month for super-luxury homes since July, when 25 million-dollar-plus properties sold.

 

— “Home Sales Up as Prices Plunge,” by Jerry W. Jackson, Orlando Sentinel, Dec. 11, 2008.

 South Dakota

South Dakota is among the states with the largest housing market price jumps between the third quarters of 2007 and 2008: North Dakota, at 4%; South Dakota, at 3.9%; and Texas, at 3.2%. “We are fundamentally strong here, and we need to get that news out there.”

 

— Dar Burgard, broker/co-owner of an Aberdeen, S.D. agency, “Fundamentally Strong,” Elissa Dickey, Aberdeen News, Dec. 7, 2008.

California

Home sales increased 117.1% in October in California compared with the same period a year ago, while the median price of an existing home fell 39.9%, the California Association of Realtors® (C.A.R.) reported. “Statewide sales increased significantly in October to 552,750 homes on an annualized basis, the highest sales level since late 2005.”

 

— James Liptak, president, California Association of Realtors®, “C.A.R. Reports Sales Increased 117.1%; Median Home Price Fell 39.9% in October,” RISMedia, Dec. 1, 2008.

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