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DS News Webcast: Monday 2/3/2014

Foreclosure, REO, News, Webcast

Nationally, home-selling speeds slowed again in December, but the pace still remains brisk in many markets. Online brokerage Redfin reports the median time on market for homes in its 21-city survey was 35 days in December, up three days from November.

San Francisco and San Jose led the pack in market speed, with both cities posting a median market time of just 18 days. While that was a bit slower than November's pace, it was still almost a week faster than Washington and Ventura, which came in second with a median 24 days on market. The slowest market was Philadelphia; homes in the City of Brotherly Love spent a median 72 days listed before going under contract.

The nation's homeownership rate ticked down slightly in the fourth quarter, according to government data. Figures released by the Census Bureau show the national homeownership rate slipping to 65.2%, down one-tenth of a percentage point from the third quarter. It was the lowest fourth-quarter rate since 1995. Still, it was an improvement compared to the first half of 2013, when homeownership stayed flat at an even 65%.