Home sales in California, the largest single-family market in U.S., are likely to rise 1% in 2012 after being essentially flat this year, according to a new forecast from the California Association of Realtors.
Sales of existing homes are expected to rise to 496,200 units from a projected 491,100 in 2011.
In 2010 491,500 homes were sold in the state.
Traditionally, mortgage production in California accounts for 15% to 20% of nationwide totals.
Zombie properties rose quarter over quarter in 38 states and the District of Columbia, according to Attom's latest Vacant Property and Foreclosure Report.
The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.
Delinquencies among recent FHA originations are showing up alongside a notable volume of subordinate liens carried by the borrowers.
The share of sellers dropping their asking price fell in April as buyer demand picked up, though Sun Belt markets — especially in Texas — still saw widespread price cuts.
The real estate investment trust, while reporting a first quarter net loss, benefitted from growth and stable margins in its three mortgage production units.
The co-author of the landmark Dodd-Frank Act and progressive congressional trailblazer Rep. Barney Frank, D-Mass., has died.
