Friday, June 5, 2009

May Sales Volume Stats: Living In An Oil Press

Sales volume is continuing its slow march upward this season. For May, Weber County is down 25% YoY while Davis County is down 20%.

Just more pressure on the unnaturally large population of Realtors out there trying to make ends meet.

Trendline volume is back to 2002-2003 levels. The market is over-correcting at this point.

An interesting point is that, for a while, tightened lending guidelines created pent up demand as people who wanted homes were forced instead to rent. That pent up demand is now eroding somewhat as jobs are lost and people who were forced to rent are now forced into their parent's basement.


Clear Day Capital said...

I will try to look at the positive side: Volume is showing steady growth each month this year. Let's not give up hope for ongoing growth, and at the same time let's work hard to make it happen!

David Safeer

Jeremy Peterson said...

We are seeing the traditional seasonal bump. Its good to know where we are in time. I would rather be here at the bottom knowing we are going to trend up rather than like we were two years ago at the top and not knowing how far down we are going. There is light at the end of the tunnel. Look for a better market in 2011/2012.