In-Depth Analysis

August  2010

 

Market-at-a-Glance

The Market-at-a-Glance section contains an overall summary of the trends described in our detailed articles.

A recap of the current market indicators are as follows:

1.        Resale Listings –  42,887

a.        The July listing count increased by 1,018 (2.4%) from the June count.

2.        Resale Sales – 7,101

a.        Resale sales volume is down from this month in 2009 by -1,994 (-21.9%)

b.        Resale sales volume is up from this month in 2008 by 1,135 (the 2008 figure was very weak because of the credit crunch).

c.        Resale sales volume is up 2,374 sales from this month in 2007.

d.        Resale sales volume is up 1,008 from this month in 2006.

e.       Resale sales volume is down -2,293 from this month in 2005 (the 2005 figure was inflated by speculator activity).

f.         Resale sales volume is down -1,939 from this month in 2004.

g.       Resale sales volume is down -579 from this month in 2003.

3.        Median Resale Sales Price - $125,000

a.        The median July sales price decreased $2,000 from June.

b.       The median sales price is $130,000 below the June 2007 level. 

c.        The appreciation rate for the last fifteen months (April 2009 to present) is 6.7% on an annualized basis. 

4.        New Home Market

a.        The number of New Home specs on August 17th had increased by 132 from the July 14th count to 1,759.  The record level was in October 2006 at 4,692.  Prior to February 2006 the record was 2,400 homes.

b.        The number of New Home subdivisions this month decreased by four to 494.

5.        REO – The percentage of resale properties sold which were Lender Owned increased 1.9% to 37.2%.

The general press is reporting housing market information that is six to nine months old.  The In-Depth Analysis Newsletter provides current information that you need to serve your buyers and sellers and to help them understand what is happening in todayÕs market.

 

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