It is even more significant when you figure that September 2007 was a market-shock month that made September 2008 artificially look like "growth" when compared to it. If we go back in the books, the last time we had natural growth was February 2007...almost 2.5 years ago.
The question remains whether this is a one time event or a trend. If July and August numbers hold, it will likely signal the market hitting an equilibrium point rather than the decline we have experienced over the last several years. This will be a refreshing change of direction...even if it is sideways. Its alot easier build your business on a steady floor than when you are in freefall.
Notably, Weber county narrowed its YoY decline quite a bit at being down only 9% in June as compared to 21% is May.
Here are the charts:
Thanks for staying on top of this. This is great information.
ReplyDeleteJuly data will be eagerly anticipated. Plan on seeing it around the 15th of August.
ReplyDelete