Alameda County Housing Market
According to Data Quick News “the typical monthly mortgage payment that Bay Area buyers committed themselves was $3,074 last month, up from $2,944 the previous month and down from $3,082 a year ago. Adjusted for inflation, current payments are 19.5 percent above typical payments in the spring of 1989, the peak of the prior real estate cycle. They are 5.8 percent below the current cycle’s peak last June.
The number of homes in Alameda County that were sold in April of 2006 was 1,786 compared to 1,555 in April of 2007. That indicates a -12.9% change in the last year.
“Indicators of market distress are moving in different directions. Financing with adjustable-rate mortgages is declining significantly. Foreclosure activity is rising but is still in the normal range. Down payment sizes are stable and flipping rates and non-owner occupied buying activity is down,” DataQuick reported.
