Welcome to the DevoreRealtyGroup.com Blog

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 

  • Search for your next home on our website
  • Learn more about Rancho Carrillo in Carlsbad, CA
  • Like” our Facebook page
  • Follow us on Twitter
  • View our listings on YouTube
 
Blog Archive
2017-04-21 06:42:10
Why are renters staying put?

2017-04-20 06:49:29
Homeowner Value Estimates vs. Appraisals

2017-04-09 07:26:48
San Diego 8th Hottest Real Estate Market

2017-04-03 13:29:11
8 Questions to Ask When Deciding to Rent or Buy

2017-03-31 17:41:05
San Diego rent prices vs. home prices

2017-03-24 13:33:28
Preparing Your Budget for Buying Your First Home

2017-03-24 10:02:40
San Diego home prices dip in February

2017-03-15 17:54:30
County Housing Patterns Shifting

2017-03-03 11:32:47
Where millennials want to live might surprise you

2017-02-27 13:41:52
Misleading Math Behind the Rent vs Buy Calculation

2017-02-24 10:38:59
Older Americans Face Challenges Aging in Place

2017-02-21 15:12:32
Moving Less in U.S.: American Dream Takes a Hit

2017-02-07 13:52:11
Millennials, Housing, and the American Dream

2017-02-01 11:50:46
20 Hottest Markets for U.S. Real Estate in January

2017-01-31 18:13:12
January, February Prime Months to Purchase a Home

2017-01-26 14:47:42
Home Buyer Challenges for 2017

2017-01-19 12:21:59
Nation's Priciest House: $250M

2017-01-13 14:17:03
Are local housing's price gains real?

2017-01-13 12:06:22
Housing Outlook 2017: Eight Predictions

2016-12-30 11:05:38
Trump Win Could Usher in Boom for U.S. Housing

2016-12-19 18:12:11
Is the Starter Home Coming Back?

2016-12-19 17:28:35
Interest rate increased, where will consumers feel

2016-12-19 16:47:51
Step Aside HAMP, There's a New Kid in Town

2016-12-08 17:45:40
Marketwatch Report November 2016

2016-12-08 17:10:21
FHA Loan Limits To Rise in 2017

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.