Home Sales Drop 18.6%
Home sales
The National Association of Realtors released a report today showing that pending home sales declined in June by 18.6% below June 2009 pending home sales level.
The National Association of Realtor’s chief economist, Lawrence Yun, said: “There could be a couple of additional months of slow home-sales activity before picking up later in the year, provided the job market continues to improve. Over the short term, inventory will look high relative to home sales. However, since home prices have come down to fundamentally justifiable levels, there isn’t likely to be any meaningful change to national home values.”
For Western region,which includes San Diego, pending sales were down 14.2 percent from a year ago.
Today’s news may be a surprise for many, but my subscribers were made aware of this fact in San Diego on July 7, 2010, in my post entitled San Diego real estate 2010 2nd. Half Outlook … double-dips. Why not get a free subscription (look at the upper right side of this page) or automatic email update today?
San Diego housing market
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