SD New Home Sales up 42% – Existing inventory down 15% YOY — Means what?

[(former)FormerSanDiegan]

As for the 42% increase in new home sales …

Q: How much of an increase is it from 0.00002 to 0.0000284 ?
A: 42%.

In 2004 about 16,000 new homes sold.
In 2nd quarter 2008 (the 42% increase) 1042 new homes sold. That’s in the quarter that is historically has the most sales.

Pathetic.

[hugo]

California median drops 31.5% in June from a year earlier. Number of sales drops 8.1%. Get this – 41.9% of sales were foreclosed homes. Foreclosed homes were only 6% of sales in June of 07.

“Price drops were heaviest in inland areas, but DataQuick President John Walsh said the decrease could signal coming price reductions in the more expensive coastal counties.”

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/07/16/financial/f094838D13.DTL

[hugo]

California median drops 31.5% in June from a year earlier. Number of sales drops 8.1%. Get this – 41.9% of sales were foreclosed homes. Foreclosed homes were only 6% of sales in June of 07.

“Price drops were heaviest in inland areas, but DataQuick President John Walsh said the decrease could signal coming price reductions in the more expensive coastal counties.”

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/07/16/financial/f094838D13.DTL

[hugo]

California median drops 31.5% in June from a year earlier. Number of sales drops 8.1%. Get this – 41.9% of sales were foreclosed homes. Foreclosed homes were only 6% of sales in June of 07.

“Price drops were heaviest in inland areas, but DataQuick President John Walsh said the decrease could signal coming price reductions in the more expensive coastal counties.”

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/07/16/financial/f094838D13.DTL

[hugo]

California median drops 31.5% in June from a year earlier. Number of sales drops 8.1%. Get this – 41.9% of sales were foreclosed homes. Foreclosed homes were only 6% of sales in June of 07.

“Price drops were heaviest in inland areas, but DataQuick President John Walsh said the decrease could signal coming price reductions in the more expensive coastal counties.”

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/07/16/financial/f094838D13.DTL

[hugo]

California median drops 31.5% in June from a year earlier. Number of sales drops 8.1%. Get this – 41.9% of sales were foreclosed homes. Foreclosed homes were only 6% of sales in June of 07.

“Price drops were heaviest in inland areas, but DataQuick President John Walsh said the decrease could signal coming price reductions in the more expensive coastal counties.”

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/07/16/financial/f094838D13.DTL

[cr]

http://www.housingwire.com/2008/07/18/june-home-resales-in-california-slowest-since-1988/

Nowhere near bottom if these two bubble timelines conincide at all.

Then again, job losses caused the 90’s crash, and this time (really is different) the crash is causing job losses.

Conclusion? Bottom still out of sight.

[cr]

http://www.housingwire.com/2008/07/18/june-home-resales-in-california-slowest-since-1988/

Nowhere near bottom if these two bubble timelines conincide at all.

Then again, job losses caused the 90’s crash, and this time (really is different) the crash is causing job losses.

Conclusion? Bottom still out of sight.

[cr]

http://www.housingwire.com/2008/07/18/june-home-resales-in-california-slowest-since-1988/

Nowhere near bottom if these two bubble timelines conincide at all.

Then again, job losses caused the 90’s crash, and this time (really is different) the crash is causing job losses.

Conclusion? Bottom still out of sight.

[cr]

http://www.housingwire.com/2008/07/18/june-home-resales-in-california-slowest-since-1988/

Nowhere near bottom if these two bubble timelines conincide at all.

Then again, job losses caused the 90’s crash, and this time (really is different) the crash is causing job losses.

Conclusion? Bottom still out of sight.

[cr]

http://www.housingwire.com/2008/07/18/june-home-resales-in-california-slowest-since-1988/

Nowhere near bottom if these two bubble timelines conincide at all.

Then again, job losses caused the 90’s crash, and this time (really is different) the crash is causing job losses.

Conclusion? Bottom still out of sight.

[Author]

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