Instead of checking every MLS system in the country (or perhaps just monitoring their own realtor.com), 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 | ||
| May, 2011 | ||
| June, 2011 |
North San Diego County Coastal closings:
| Month | Detached Sales & Avg $/sf | Det. and Att. Sales & Avg $/sf |
| June, 2010 | ||
| May, 2011 | ||
| June, 2011 |
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.
Well, I guess this answers the previous question you asked, “Should Home Buyers Wait.” If people had waited one year from last June, they would pay about $20 a square foot lower – for even a 1000 square foot cottage, that would be 20K! For 2000SF, 40K! Not bad for waiting a year, and with lower mortgage rates also.
Could be more larger homes in the mix or people buying at a “unit” price vs. $/sf.
A 4,000 sf bomber sells for much less per square foot than an 1,000 sf cottage.
I think people look closer at sales price as a comp vs. $/sf.
By the way Mark, where did you get -$25/sf? Looks more like -$10/sf, or a 3% discount over 2 years.
My bad Mark, I just saw you were looking at 2010 in all of San Diego County. I was looking at North County Coastal.
Yes, you could save more buying in other parts of the county.