“Submitted by sdrealtor on February 19, 2007 – 3:29pm.
Short sales 1,363 up from 1328 (2.6%) from last week.
Total SD County Listings 15,717 up from 15,695 still relatively flat for the year.
Market continues to w relative strength. I thought I was begining to see inventory increase and then that rally fizzled. I just dont know when it will start piling on if at all.”
Trend wise it looks identical to last year at this time. It will be interesting to see if the slowing economy alters this season and how.
I am in sales with a commodity type product that is directly tied to business activity in industrial, govt, energy and service sector so I have some anecdotal evidence regarding current business conditions. As of right now through mid Feb, sales are very soft with a handful of people hitting their number across the country verses this time last year when 70% of the sales force were at or above goal. My distributors tell me it is the small mom and pop type businesses especially in and around the LA basin that are basically disappearing. Capital Good manufacturers are getting hit with delayed orders and many have laid off employees or getting ready too. The service sector that we cater to are very cost sensitive right now and are cutting back or trading down. Energy is the exception, sales into that space are actually up over last year. I have been through a few recessions and this seems different, previous downturns I have experienced seemed like business hit a brick wall and was much more pronounced. This is more like a steady deterioration that seems ever so slightly gaining momentum.
