San Diego Housing Market News and Analysis
Historical Home Sale Volume Measured in Dollars
Submitted by Rich Toscano on September 25, 2009 - 2:49pm
In response to last week's article on historical home sales, a reader requested charts expressing the sales data in terms of dollars' worth of homes sold instead of just the number of homes sold.
I had to cobble a few things together to make these charts. (Non-nerds may skip the rest of this paragraph). Ideally, the dollar volume of homes sold would be calculated by either just adding up individual prices of every sale or multiplying the average price times the number of units sold, which would both come out to a precise total of dollar volume. But I didn't have historical average prices. What I did have historical data on was the Case-Shiller index, which I rebased to the median price for all homes sold in San Diego in August 2009. This isn't exactly the same as the average price for any given month, for various reasons, but I suspect it will be close enough to get a general idea of what's going on.
Okay, everybody back? Here is the chart of existing home sales in terms of dollars since 1990, with the requisite 12-month average to smooth out the seasonal ups and downs:
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