Orange County Register

There may be a modest housing recovery going on in the West, but it pales to the rest of the nation. At least, by Clear Capital’s math. These real estate trackers’ most recent report — data through October 25 — shows …

• Home price in the West up 2.1% in the last 3 months vs. the previous same period, smallest gain of Clear Capital’s 4 slices of the nation. (U.S. gain in the period? 3.7%)
• Same trend when looking at past 6 months vs. previous half year: West up 3.3%, lowest of the 4 slices and below the 9.1% national gain.
• As for year-over-year, no surprise: West trailed the pack … down 14% — worst of the foursome — and trailing the national 8.4% decline.
• All the regional numbers are in the map at right!

Says Alex Villacorta of Clear Capital. “As we’ve seen since the spring season, many markets have returned to traditional seasonal fluctuations and the strong summer gains are showing signs of slowing. … The continued decline in REO (foreclosure) saturation rates, as well as an increase in the proportion of cash buyers in both distressed and fair market sales, are an encouraging sign of investor optimism coming into the traditionally slow months.”

Real estate outlooks:

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