April Sales Numbers – Piggington's Econo-Almanac

This topic has 19 replies, 12 voices, and was last updated 17 years, 6 months ago by Bugs.

Viewing 15 posts - 1 through 15 (of 20 total)

1 2 →

Author

Posts
May 3, 2007 at 12:55 PM #8992

Bugs
Participant

As of today, the MLS reports 2,132 Sales of detached and attached homes for April 2007. That number will go up because – as sdr explains – some brokers take a while to update their listings.

Last month we started out with about 1800 sales as of the last day of the month and ended up with 2,366 sales by the time it settled down a week or so later. Today is already May 3rd, so I reckon we’ll get to our final April number within the next week or so.

April 2006 ended up with 2,620 sales – I doubt April 2007 is going to equal that, but we’ll see. So far this year, our volumes are down compared to 2006, itself the worst year for sales in the last 9 years.

May 3, 2007 at 1:01 PM #51736

no_such_reality
Participant

Bugs, is that all homes including new homes? Jim the Realtor’s blog tracks April sales at about 1350. IS his just resale homes?

I’m still amazed that for the biggest purchase 99% of Americans are going to make that everybody gets not only different numbers but wildly different numbers whether sales, NODs, foreclosures, the RE gig up and down the line.

May 3, 2007 at 1:44 PM #51749

SD Realtor
Participant

The MLS simply gives data for listings put on the MLS itself. So if there are new homes on the MLS then that particular home that closes on the MLS will count as an MLS sale. However, if there are 20 other homes in the development that sold that month but they were not on the MLS then they will not be counted. As for the differences between the MLS and Jims number it all depends. Also make sure you check to see if the number is a total of ALL TYPES of homes or not, (attached, detached, multifamily) as Jim may parse things out in a more granular manner.

SD Realtor

May 3, 2007 at 3:06 PM #51767

Bugs
Participant

The number I used was the combination of detached and attached housing, and is strictly limited to what the MLS itself shows. The builders mostly don’t use the MLS, so their sales would be in addition to the MLS numbers. Likewise, the FSBO and non-sale transfers don’t show up in the MLS either. I think it’s fair to say that the MLS is just the MLS, not the complete picture. I still think it’s a good indicator of trends, though.

May 5, 2007 at 9:42 PM #51930

kiki
Participant

Jim’s numbers are detached only. He mentions this in the comment section.

May 9, 2007 at 12:27 PM #52200

Bugs
Participant

Update:

As of Noon 05/09/2007, the MLS is reporting 2,223 sales for April 2007. This comes in almost exactly at 15% fewer sales than reported in the MLS during the same period of 2006.

For the first 4 months of the year, this region is down by about 15% when compared to 2006. Maybe it’s just me, but I’m just not seeing a rally in progress.

May 9, 2007 at 12:39 PM #52203

Anonymous
Guest

Do these sales numbers include this April’s 600+ forclosures in the total sales? If so, is not this April’s sales figure considerably lower than last year’s?

Also, is there any way to determine how forclosure sales at auction back to the lender are affecting median and median price per square foot?

It seems to me that if 600 homes were forclosed upon and went REO at close to the value of the loan, then this would have a considerable impact on maintaining high prices in the market. It would also seem to mask what was really going on with the prices of other homes being sold.

Am I wrong?

May 9, 2007 at 12:41 PM #52204

Anonymous
Guest

sd teacher, are you really a teacher? Do you teach at a public school? What grade and which subject?

I ask because you spell ‘foreclosure’ incorrectly.

May 9, 2007 at 1:35 PM #52218

sdrealtor
Participant

forclosure salz are not in the mls unlest they came back as REO’s after goin bak to the lenduh

May 9, 2007 at 2:28 PM #52228

little lady
Participant

That’s mean you guys………everyone here misspells a word or two now and again(not to mention typo’s).

Anyway, thanks for the update. It makes me feel better cuz’ the house I have been lookin’ @ buyin'(wanted to lowball @ summer’s end) got snatched up.

May 9, 2007 at 2:37 PM #52230

Bugs
Participant

What? -15% off of the 2006 numbers isn’t enough of a drop in volume for you? C’mon. 2007 is shaping up to be the worst year for sales volumes since 1996. The foreclosures will just add to that pressure. If the NOT trends continue the resulting REO resales 6 months from now will already comprise 25% or more of the sales. Think what that will do for pricing.

MLS only shows what the realty agents sell through the MLS. It won’t show the transactions that aren’t really sales, like interfamily or foreclosure transactions.

May 9, 2007 at 2:53 PM #52234

PD
Participant

We are a society that demands instant gratification. Anything less than a 5% drop per month isn’t “instant” enough.

May 9, 2007 at 8:13 PM #52273

Anonymous
Guest

Yes I am really a teacher – Middle school history, and I have been known to spell words wrong when I am typing quickly. Good thing I don’t teach spelling.

But, how about my question? Do foreclosures affect median price per square foot?

May 9, 2007 at 8:48 PM #52274

PerryChase
Participant

Mozilla Firefox 5 has spell check. I don’t make spelling mistakes anymore. It’s the grammar and syntax I worry about.

_A Way with Words_ is a fun show on KPBS radio.

I don’t think that foreclosures affect anything until they are sold again.

May 9, 2007 at 9:22 PM #52276

Anonymous
Guest

Very funny, sdr!

little lady, check your spacing, and no apostrophe in ‘typos.’

Perry, you have laid down the gauntlet with your ‘I don’t make spelling mistakes anymore.’ I’ll be watching!
Author

Posts