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:
Bryan & Allison Devore
Prudential California Realty
North San Diego County and Carlsbad Real Estate
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