Friday, June 01, 2007

Preliminary May Sales Stats

May has come and gone, so I ran a quick search to see how the sales stats stacked up. It's still early since agents are supposed to enter the sales information within 2 days of closing, so there may be some stragglers that aren't accounted for. My search showed 1,499 sales for the 4 county area, a drop of nearly 34% from May of last year. For the last 2 years, June has always seen the highest number of sales. Will we repeat this year? The image below contains sales history for the last 2 years.



9 comments :

anon1137 said...

When I woke up this morning, I thought, I wonder how May sales are going to stack up? I wonder if there is any way to get a preview before the DQ data comes out. The first web site I thought of was Sac RE Stats, and you had the prelim data up. Thanks, AB!

34% down, another bad month for sellers/agents. My feeling is that houses are sitting and sitting - sellers aren't budging and buyers aren't biting. Seems like fewer new listings are being put on the market too (except foreclosure sales!).

AgentBubble said...

Definitely more foreclosures and short sales on the market. In fact, we're now at 20% of the total market being a short sale or REO for the 4 county area. In Elk Grove, it's 31%...

Patient Renter said...

I wonder if March will remain the high for this year... you know, with the big spring bounce and all.

Darth Toll said...

Holy crap this is ugly. Nice work AB. Wish I had more to say about it but those number really say it all.

Sittin' Out This One said...

It appears we have 11 months of inventory on hand (16,500 / 1499). That should get some price corrections moving soon. It amazes me that the homebuilders are still adding new inventory to the mix. And the foreclosures will take more wind out of the sails. Red sky at morning, sailors take warning.

It is going to be a tough fall & winter for selling homes.

Anonymous said...

HB must continue to build to clear land they already own. They can not sell land w/o a house on it.

it is better for them to build and sell at low price than not to build and not to sll at all.
they will continue to build as long as they have cash

Sippn said...

Are these MLS only, data quick (including new) or what?

AgentBubble said...

MLS only.

Perfect Storm said...

Drove through east sacramento yesterday and noticed a ton of homes for sale. It appears there is a lot of competition in east sacramento.