Wednesday, June 4, 2008

Hey, Doug! How's the Market?

Here are some stats you can spit off at your next family get together:

*1st quarter 08 home sales in SL county are DOWN 67% from 1st quarter 07. Sales are lower than 2003 numbers.

*Homes have seen a 36% increase in value since 2003.

*28% of homes on the market are selling. Or, for the pessimist, 72% of homes are not selling. Contrary to popular belief, this is actually normal. THE MARKET HAS GONE BACK TO NORMAL. NOT COLLAPSE.

*During the boom, about 70% of homes were selling.

*The average home price fell to $267K. Down 7% from last quarter. I thought is was a law that real estate values always went up?

*Congress is full of idiots.

*There are currently more than 8200 homes for sale. About 2000 too many.

*SL county has a 8.7 month supply of homes. Buyer's market, baby. Buyer's market. Draper has a 13.1 month supply. Mega buyer's market.

*Did I mention congress is full of idiots?

1 comment:

Bryan & Sarah said...

Damn! Now if I just had some cash to afford a new home!

-Bryan