California Pending Sales Up Monthly; REO, Short Sales Decline

California saw a month-over-month increase in pending home sales in February, while distressed were down for both REOs and short sales, the California Association of Realtors (C.A.R.) reported. C.A.R.‘s Pending Home Sales Index (PHSI) was up 8.7 percent to 110.2 in February, up from from a revised 101.4 in January. The index is based on signed contracts. Year-over-year, pending sales decreased …

California Cities Post Highest Single-Family Rent Increases

California cities claimed seven spots on a top 10 list of cities experiencing the highest rental price increases for three-bedroom, single-family homes. RentRange, LLC, a Westminster, Colorado-based data and analytics provider for the single-family rental market observed changes in rent prices for three-bedroom, single-family homes located in cities with at least 25,000 residents.The data firm found the greatest growth in …

Foreclosures Prevented with 850K Mods, 422K Short Sales in 2012

For all of 2012, servicers completed more than 850,000 loan modifications, while the industry also continued to push for another foreclosure alternative—short sales, according to recent data from HOPE NOW, an alliance of mortgage servicers, investors, mortgage insurers, and nonprofit counselors. Out of the 850,034 completed mods, 661,363 were proprietary modifications, and 188,671 were through the government’s Home Affordable Modification …