Home sales plunge 21% in California

Sales of existing homes in California dropped 21.1 percent in May, while the median price increased 8 percent, according to an industry report.

Closed escrow sales of existing, single-family detached homes in California totaled 488,260 in May at a seasonally adjusted annualized rate, down from 618,920 during the same month a year ago, according to the California Association of Realtors.

The statewide sales figure represents what the total number of homes sold during 2006 would be if sales maintained the May pace throughout the year.  more...

Florida home sales fall 24%

Existing-home sales in Florida dropped 24 percent in May from the previous year, while median prices and inventory of homes available for sale continued to rise, according to an industry trade group.

A total of 18,680 existing single-family homes were sold in the state last month, down from 24,523 homes sold the previous May, the Florida Association of Realtors reported.

Statewide, the existing-home median price rose 11 percent to $256,400 last month; a year ago, it was $232,000.  more...

New-home sales drop 5.9% in May

Sales of new single-family homes in May 2006 were at a seasonally adjusted annual rate of about 1.23 million, the U.S. Census Bureau and the Department of Housing and Urban Development reported this week, which is a 4.6 percent rise over the revised April rate but is 5.9 percent below the May 2005 estimate.

The median sales price of new houses sold in May 2006 was $235,300, which is down 4.3 percent since April but up 3.1 percent since May 2005.  more...

Illinois real estate sales lose strength

Illinois home sales fell for the second consecutive month in May as the state's median-home-price growth slowed to a more moderate pace, according to the Illinois Association of Realtors' latest report.

Total homes sales, which includes single-family and condominiums, slipped 2.2 in May to 17,442 homes sold, compared with 17,840 homes sold a year ago.

Year-to-date home sales (January through May) totaled 66,161 in 2006, down 1.3 percent from 67,055 homes sold during the same period in 2005.

The Illinois median home price in May was $206,000, up 3.1 percent from $199,90  more...

Existing-home sales slow in May

The rate of existing-home sales dropped 1.2 percent in May compared to April and fell 6.6 percent compared to May 2005, the National Association of Realtors reported today.

The median sales price of existing homes, meanwhile, increased 6 percent from May 2005 to May 2006 while the average sale price rose 3.8 percent in that time.

Total existing-home sales --  more...

'Shifting' economy impacts consumer confidence

The Conference Board today reported that its Consumer Confidence Index, which had decreased in May, posted a slight increase in June. The index now stands at 105.7, up from 104.7 in May.  more...

Overnight real estate rates head higher

Long-term mortgage interest rates were up again Monday, and the benchmark 10-year Treasury bond yield climbed to 5.24 percent.

The 30-year fixed-rate average inched up to 6.38 percent, and the 15-year fixed-rate increased to 6.08 percent. The 1-year adjustable was up at 5.44 percent.

The 30-year Treasury bond yield increased to 5.27 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...