Hat tip to JT who sent in this doomy article about home sales:
Southern California home sales hit the brakes in June, falling to the lowest reading for the month in four years. Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic. The report covers Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties.
Sales fell 1.1 percent compared with May, but the average change from May to June, going back to 1988, is a 6 percent gain.
The weakness was especially apparent in sales of newly built homes, which were 47 percent below the June average. Part of that is that builders are putting up fewer homes, so there is simply less to sell.
“A portion of last month’s year-over-year sales decline reflects one less business day for deals to be recorded compared with June 2017,” noted Andrew LePage, a CoreLogic analyst. “But affordability and inventory constraints are likely the main culprits in last month’s sales slowdown, which applied to all six of the region’s counties and across most of the major price categories.”
We already saw that NSDCC sales in May and June were both down 20% YoY, but this month we’re hanging tough with last year!
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There’s still time to get in before school starts!
Off topic, but… What a day! Trump went to Illinois, and the steel workers and veterans were in tears, they were so happy! Some even stood up and spoke before the crowd! Like in a Norman Rockwell painting come to life! He also went to Iowa or Idaho (what’s the difference?) and was met with throngs shouting american glee.
And to top it all off, MSNBC actually sent reporters out to Iowa or Idaho, asking the farmer’s how Trump was destroying them, and they stuck up for Trump! Every one of ’em! Reporter asked, “things might go badly, so what would you tell Trump to do now?” and the farmer said, “Just keep doing what you’re doing! The last three administrations ignored us! We’re doing better now! Just keep going!” The reporter looked like an eighth grader who’s science project involving sulphur went horribly wrong in front of the whole class!
Anyway, yesterday was a great day. Today was a great day. Tomorrow will be a great day!! I feel like Marty McFly! It’s like the fifties, with rich black people!
Go Kanye!
Conclusion: Buy that house!
I interrupt JtR’s excellent real estate blog to send a personal note to daytrip.
I come over to bubbleinfo to read and learn about real estate. It’s my favorite real estate blog since I read an in-depth article about Jim the Realtor for the first time on the front page of the LA Times’ real
estate section back in April, 2009. I’ve been a huge fan ever since.
daytrip, can you please refrain from consistently commenting here with all the political Trump worshipping?
If you want to talk Trump, may I respectfully suggest you start a political blog of your own?
And for the record, there are differences between Idaho and Iowa. (I’ve lived in one of those states for almost 8 years.)
Be well,
-Susie
“daytrip, can you please refrain from consistently commenting here with all the political Trump worshipping?”
Hi, Susie!
While I worship no politician, people who know me, know that I am a particular fan of when a plan comes together. Sometimes, I’m going to be caught applauding, while not even realizing it. I mean, so many plans coming together, so often, you have to muster a little compassion for a simple man like me. I will not always succeed at maintaining the gentleman’s countenance you may take for granted in your social circles. That is my shortcoming in temperament, and character, that I will grapple with… for eternity. I will continue to do my best to control myself, and pray for your compassion, should I fail again, and fail I may.
As far as the difference between Iowa and Idaho… on more considered reflection, I’ve come to realize that Idaho gives America her potato’s, while Iowa give her her corn. Which feeds out beef, which builds bones and sinew that drives our nation. It’s no wonder our President who, out of my respect for the readers, will remain unnamed, travelled to one or the other this day, to pay his well earned respect.
Thank you for your suggestions. I’m always looking to improve.
Daytrip
Susie,
It’s my job to moderate the comments, which I try to do as little as possible.
I am strict about keeping it to real estate, but Daytrip gets some latitude because of his long-time contributions. I let this one go because I thought it was funny.
Rants are alway fun to watch. MSNBC and FOX are my personal faves.
daytrip,I read your thoughtful reply and hope that you understand I work on myself to extend compassion too. (That’s why I ended my previous note with “be well”.)
My problem is I’m a “real estate addict”. Note not agent (I leave that to Jim the Realtor). Although people often ask me why I’m not an agent (having been addicted since building our first little home in Hawaii in the late 1980’s), I tell them there’s too much lying and fraud for me to jump in, and well, retirement is way too more fun!
That said, *Chuckle* I guess I should realize you’ve been on bubbleinfo much longer than I have, and I should respect my “elders” more.
I really do wish you well, and I promise I’ll look for the humor in your posts more.
Hi, Suzy!
To be candid, I don’t think my being allowed to post is a matter of seniority. I think it’s more a matter of charity. But thanks for assuming the best of my situation around here! I always enjoy your posts! Always enjoy hearing from you!