First ½ of 2010

 

Well the first ½ of 2010 is done. Everybody associated with real estate that I spoke to was anticipating a drop in sales but I don’t think it was to this extent. Sales dropped last month by 38% from June of 2009. June is typically  of top month for sales but this year it became one of our worst.

So whats happening? I would like your opinions.

Why do you think the real estate market dried up in June 2009?

Do you think it will come back to normal?

Do you think this is what the ‘experts’ call the double dipped recession?

When do you think the market will rebound?

I have my theories and ideas but I would like to hear from you.

Numbers to look at:

June 2009 – New Listings 299 Sales 213 (71% sales ratio)

June 2010 – New Listings 370 Sales 133 (36% sales ratio)

1st ½  2009 – New Listings 1762  Sales 887 (50% sales ratio)

1st ½ 2010 – New Listings 1889 Sales 760 (40% sales ratio)

In our typical market we usually sell about 50% of the houses available. Last year was a typical normal year, this year was close until June dropped off.

Why?

 

Let me know your thoughts?

 

Email me at ken.devoe@century21.ca

 

Thanks for reading

Ken Devoe

Century 21 Advantage

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