House Sales Down All Over
Although we have yet to see a meaningful decline in home prices, different parts of the country are experiencing a slowdown in the number of houses that are sold. In short, the houses are just sitting there unsold and inventories are growing.
"La Jolla,CA----December home sales in Southern California fell to their lowest level in four years as price increases eased back another notch, a real estate information service reported.
A total of 28,952 new and resale homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 4.8 percent from 27,637 in November, and down 4.5 percent from 30,317 for December last year, according to DataQuick Information Systems."
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"La Jolla,CA----December home sales in Southern California fell to their lowest level in four years as price increases eased back another notch, a real estate information service reported.
A total of 28,952 new and resale homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 4.8 percent from 27,637 in November, and down 4.5 percent from 30,317 for December last year, according to DataQuick Information Systems."
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posted by Little_Silvered at 5:30 PM
2 Comments:
Not entirely true. I bought a condo in 2001 for 225,000 in secaucus, sold it for 400,000 yesterday. Personally, I believe this is an outrageous price for 1,100 sqr feet. But got myself a buyer anyway.
I sold because I agree with the jist of your blog, but I think it needs another year for a drastic turn downward. These lenders are offering up any type of financing and none of the interested buyers were putting down much.
I am going to rent and sit in cash, no debt and ready to buy from distressed owners! The amount these people are paying a month is off the wall.
Sacramento County in California experienced a 4.6% median sale price decline in the last four months of 2005. I would say that is meaningful decline. Maybe Sacramento is on the leading edge of the housing bubble?
4.6% Decline in Median Sale Price since August Peak
Sacramento Land(ing) Blog
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