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2012-08-08 07:52:08
Home sales up - and down

In an article in the San Diego Daily Transcript, the San Diego Association of Realtors reported that sales of listed (in the Multiple Listing Service) resale homes dropped last month compared to June – but were up compared to July 2011.


Home sales were down in July - as well as up

Sales of single-family detached homes decreased 5.7% from June while condos/townhomes (attached properties) were down 5.1% from June. 

However, sales of single-family homes increased by 16.7% from July 2011 and attached properties increased 3.2% from last year. 

What is causing the decline in sales?  It isn’t lack of interest by prospective buyers.  In fact, there are multiple offers on most of the well-priced homes on the market.  The issue is on the supply side of the equation – there just aren’t enough homes available for the pool of buyers looking for a home.  We have about half the number of homes available right now versus this time last year, so it’s no surprise that sales declined month-over-month. 

How can we increase the inventory of homes?  Two ways: 

  • Banks need to release more of the foreclosure inventory they are holding.
  • Homeowners who have equity in their homes and who have been considering making a move need to stop waiting for prices to get back 2005 levels.  That won’t be happening anytime soon.  It’s time to make that move. 


Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

North San Diego County and Carlsbad Real Estate 

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