Housing Sales Aug. - Oct. 2008, Prince George’s County, MD
November 6th, 2008 by admin
WHAT ARE THE HOUSING STATISTICS FOR OCTOBER??
RECALLING MR. YUN’S HOUSING REPORT FOR SEPTEMBER 2008 which showed an approximate 7% increase in production.
NAR STATISTICS DO NOT IDENTIFY THE REAL CAUSE OF INCREASED PENDING SALES.
As reported in October for pending sales in September, NAR Chief Economist Lawrence Yun says that home buyers are responding to more affordability.
Could it be that the uptick in pending sales for September was an anomaly? Could it be that the increase in pending sales for September was due to the “pending” deadline, end September, for the Down Payment Assistance programs?
WE SHALL SEE. In the interim, I pulled stats for closed sales for Prince George’s County, Maryland for the month of August, September and October. Pending sales are not available for these months since many have closed. So, SOLD reports were used.
August Closed Sales - 451. Average List Price SOLD - $303,215.
September Closed Sales - 579. Average List Price SOLD - $288,367.
October Closed Sales - 338. Average List Price SOLD - $274,744.
If the increase in pending sales for September was due to “more affordability”, what can we make of the reduction in sales for October when homes are even more affordable?
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-Mail.
This entry was posted on Thursday, November 6th, 2008 at 4:58 am and is filed under OPINION. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
