• Aug. 23, 2006 - Home Sales Plummet 35% in July
So what or who is to blame? Gas prices? interest rates? The war on terror? The war in Iraq? The "bubble" that all the "experts" keep talking about?
NAR has reported that July 2006 single family home sales fell 11.2% compared to July 2005. I'm sure the agents in our local MLS wish that was all that home sales had fallen.
With just over 100 Realtor® nembers, it's not a large MLS, but here's a look at what's happening in our part if the world.
July 2006 Sales vs 2005 Sales
| Residential Sales |
Down 35% |
| Sales Volume |
Down 37.18% |
| Average Sales Price |
Down 17.9% |
| Median Sale Price |
Down 33.7% |
This MLS serves an mostly rural area with a population if probabky 40,000 oeople, Their haven't been any significant employment related issues that would account for the change,In talking to the top agents in the MLS, some of whom have been in the business for 25-30 years, none if them can explain the huge drop in sales.
This should be interesting to see how it shakes out.. |
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