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"N. Calif home sales drop 23 percent in July"
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2010 Aug 19, 3:17am 12,805 views 68 comments
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tatupu70
2010 Aug 24, 11:28am
It was clear what his point was. The data was clearly spelled out right in front of him but refused to see it
The point of the graph was clear, no doubt. He was questioning one of the implicit assumptions though. I like people who question the obvious...
Well, duh.
You’re still doing better than the exurbs of Minneapolis - our sales are down much more significantly m-o-m. Then again, the moral fabric of California being what it is, your real estate officials are probably just lying.
Im a newbie and apparently I need (3) posts to create a new one.. but I saw your.... thinking about dumping our n. cali home (tops schools, good neighborhood, town, etc) and moving to MSP. Edina or somewhere in that neck of the woods.
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http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/08/19/financial/f093706D36.DTL&tsp=1
Home sales in the San Francisco Bay Area plummeted 22.8 percent last month from the previous year to reach their lowest level in 15 years, a tracking firm reported Thursday.
San Diego-based MDA DataQuick said the drop from 8,771 homes in July 2009 to 6,773 homes last month came as the market adjusted to the end of federal tax credits for first-time buyers.
Last month was the slowest July since 1995, when just under 6,666 homes were sold in the nine-county region, the firm said. Sales were also down 19.1 percent from around 8,373 in June.
"There was more to last month's sales drop than expiring federal home buyer tax credits, but we think they were the main reason the decline was so sharp," DataQuick president John Walsh said. "As the boost from the credits waned, low mortgage rates just weren't enough to outweigh the weak economic recovery and low consumer confidence."
The median home price in the region declined 2 percent to $402,000 last month from $410,000 in June.
However, the median price last month was up 1.8 percent from $395,000 in July 2009.
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