Dataquick released the August sales yesterday, and at first glance you might think we should be looking for lifeboats – this is the second month in a row that Dataquick has reported SD sales dropping more than 18%:
But August, 2013 was probably the last month that buyers were able to lock in a mortgage rate in the 3s, before rates jumped at the end of June.
If you look at San Diego’s 2014 monthly sales, they look consistent and remarkably strong considering that prices have been going up every month. Here are the MLS counts for all property types in the county:
Jan = 2,116
Feb = 2,271
Mar = 2,778
Apr = 3,321
May = 3,255
Jun = 3,182
Jul = 3,043
Aug = 2,806
If sales fall off the next few months, the blame will be on the holidays, and sellers will expect a vibrant selling season again next spring.