Chicken Little says “the ‘housing’ sky is falling” …
Did you see the article in the Trib this week that said “Home prices keep falling in San Diego”? I hope you read the rest of the article. My statistics professior in my first year of college once said “you can make the data say anything you want”. And once again the pundits are making the data say what they want.
First thing I noticed is that the article was quoting March data — and if you haven’t noticed we’re into June :) Towards the bottom of the article, it was mentioned that the buyer tax credit that was in effect until essentially end of September 2010 did inflate last year’s prices. In my opinion that means that trying to comparing this year’s prices to last year’s prices is like trying to compare apples to oranges.
And to further convolute things, there continues to be a significant number of properties for sale that are either bank owned or short sales — and those properties are generally in worse condition that a traditional owner sale — and usually sell for less due to the condition of the property. So if you are selling your well maintained property — the price shouldn’t be the same as a beat up bank owned property — again, it’s apples and oranges.
For you data analyzing nuts, I’ve included the April (sorry May’s not out yet) year to date sales stats and condo year to date sales. Take a look at your neighborhood stats, and let us know what you think. fyi — LP = List Price, SP = Sold Price, MO INV = how many months it will take to sell the current number of active homes on the market. In San Diego, a healthy market is about 3 months — a seller’s market is fewer months and a buyer’s market is more months.
In my opinion the sky is not falling, but we are on a small roller coaster, up one month, down the next — and I believe we’ll be here for the next few years.
However, well maintained properties are selling quickly and for above the average area sales price. If you are considering selling, give us a call for our experienced opinion.
See you around the neighborhood!
Trisha & Judy, REALTORS
Trisha Daly / Judy Bramer
SOLD@TrishaAndJudy.com
www.TrishaAndJudy.com
Clairemont Homes for Sale
858.490.8112 – office
RE/MAX Associates
DRE# 006953900 / 01341642
