Wednesday, October 25, 2006

CAR September 2006 Results

The California Association of Realtors has released their September numbers for single family home sales.

Sacramento Region
YoY Change in Sales: -37.9%
YoY Change in Median Price: -3.8%
Change from Peak Median Price: -6.3%


Karl Marx Brothers said...

Real estate stats from any "official " source now have all the credibility as the old Soviet news release about so called 5-year plan results:

all hogwash by the powers that be for the control of the masses.

Anonymous said...

What would we expect from the CAR. They're losing real estate agents (and their dues) by the tens of thousands and continue to try and rally a market going deeper into the tank. 40% fewer sales equates to plus change to the median price of 3.8%? I don't think so! Today, the US Govt reports the median sales price nationwide dropped 9.7% in Sept year over year. I guess Sacto, one of the hottest markets in the country, had little or no impact on these numbers. Let's get real here. CAR can jumble the numbers any way they want to show this market in its most favorable light. Unfortunately, the wary public knows the true story and will not get sucked in to their rhetoric.

Anonymous said...

PS. This price drop is the largest decline since 1970. Looks like its a soft landing though....yea right. Acknowlegement that the bubble has burst would not be a good thing riding up to the Nov elections. Better hope they're not pulling our leg on its affect on GDP ( RE downturn will only carve 1% off the GDP). I've read some reports that say that 40% of US job growth over the last 5 years was attributed to the RE boom. Where do those jobs go if we're in negative growth and remain there for any appreciable time?