Wednesday, May 27, 2009

National vs Local Stats

Not sure where to lead this discussion, but I am confused by the numbers.

National Real estate Numbers
http://finance.yahoo.com/news/April-existing-home-sales-apf-15357773.html
April existing home sales rise by 2.9 percent
Existing US home sales post 2.9 pct monthly increase in April as buyers snap up bargains prices way down.

Local Real estate Numbers
Sales down prices up.....
Summary
Year-to-date 09 vs. 08 sales are down 27%, likely due to the weakened national economy. Median sales prices fell 3% for single family residential listings for the same time period. Inventory is down 3.8% compared to last year. Pending inventory is on an upward trend, rising 19.5% from last month (Mar. 09). The Housing Affordability Index (HAI) increased 4.2% from April 08—meaning that the Bluegrass provides affordable options to buyers. Additionally, traffic to LBAR.com has risen over the past two months, with 97,184 unique visitors in Apr. 09.

My experience is that these numbers do not add up for April, at least for me. The TERRIBLE numbers for Condos is having a HUGE impact it appears, they were off 56%. But average prices in both categories were in the positive, 2% and 7% respectively! Now Oct. 08 - Feb. '09 were indeed terrible across the board, but March-Today I am very encouraged by the activity. I will be anxious to see the Q2 stats.

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