Instead of checking every MLS system in the country (or perhaps just monitoring their own, the NAR approximates the annual sales pace every month.

From the AP:

WASHINGTON (AP) — Fewer people bought previously occupied homes in June, putting this year on pace to be the worst for sales since the housing bust.

Home sales fell 0.8 percent last month to a seasonally adjusted annual rate of 4.77 million homes, the National Association of Realtors said Wednesday. That’s far below the 6 million homes per year that economists say represents a healthy housing market.

June’s decrease was the third straight monthly decline in sales. Through the first six months of this year, the sales pace is behind last year’s 4.91 million homes sold _ the weakest sales in 13 years. Sales have fallen in four of the past five years.

The Realtors’ group said a record number of people who signed contracts canceled deals last month. And first-time buyers fell to a smaller share of the market.

Single-family home sales held steady in June. But condo sales plunged 7 percent.

The median sales price jumped nearly 9 percent in June from May, to $184,300. It was mainly because of seasonal factors that led to a big increase in prices in the Northeast and West.

Sales were uneven across the country. In May, sales rose 0.5 percent in the West and 1 percent in the Midwest and fell 1.7 percent in the South and 5.2 percent in the Northeast.

Let’s keep it local, shall we?

San Diego County closings:

Month Detached Sales & Avg $/sf Det. and Att. Sales & Avg $/sf
June, 2010
2,100 / $255
3,270 / $246
May, 2011
1,864 / $241
2,836 / $236
June, 2011
2,019 / $236
2,995 / $235

North San Diego County Coastal closings:

Month Detached Sales & Avg $/sf Det. and Att. Sales & Avg $/sf
June, 2010
256 / $385
388 / $370
May, 2011
243 / $383
371 / $357
June, 2011
248 / $375
377 / $363

There have been 114 detached closings in NSDCC with 8 days to go in July. Include the usual 10% who are late-reporting and we might get to 200 – but fewer sales appear to be in our future.

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