CAR & DataQuick Results for December 2006
DataQuick's dqnews.com has posted their December city/county numbers for combined sales (resale single family residences and condos as well as new homes). Yolo County continues to lead the state in year-over-year (YoY) price declines. What a difference a year makes. In December 2005, all four counties were clocking double-digit appreciation. Now all four counties are experiencing double-digit or close to double-digit depreciation.
El Dorado County
- YoY median price change: -9.66% [v. +12.04% in December 2005]
- 2nd month of YoY price declines
- Change in median since price peak: -11.04% (down $56,000)
- YoY median price change: -15.73% [v. +16.53% in December 2005]
- 9th month of YoY price declines, 5th month of YoY double-digit declines
- Change in median since price peak: -16.59% (down $85,500)
- YoY median price change: -9.00% [v. +13.64% in December 2005]
- 7th month of YoY price declines
- Change in median since price peak: -9.70% (down $37,832)
- YoY median price change: -16.76% [v. +24.84% in December 2005]
- 6th month of YoY price declines, 5th month of YoY double-digit declines
- Change in median since price peak: Yolo: -16.76% (down $81,950)
This graph tracks Sacramento County's median home price since its peak in November 2005.
This next graph shows the year-over-year change in median price since November 2005.
The California Association of Realtors also released their price and sales data for December 2006. Here's how the Sacramento region's resale single-family homes fared:
- YoY change in median price: -4.3%
- 6th month of YoY price declines
- Change in median since price peak: -8.1% (down $31,790)
- YoY change in sales: -25.6%
- 21st month of YoY sales declines, 16th month of YoY double-digit declines
3 comments:
Lander:
I like the way you put these numbers together, particularly including the change in median price since the peak. I'm going to go digging for numbers on existing home prices (size adjusted), since I'm growing increasingly interested in those.
I think it was Athena over on the Sonoma blog that pointed out that DQ includes foreclosures to it's sales numbers since they register as a transfer of title. Apparently that's their means of tracking "sales".
Add to that new home sales cancelations that don't get subtracted from sales and added back into inventory and you get a significant over-statement of movement.
Dataquick numbers will only show title changes. Once that happens, even to a new home, it can't be cancelled. So the numbers include actual new home sales closings.
Its not just you, there's a lot of confusion on the national scene on cancellations, but a cancellation becomes inventory until sold again.
On the largest decline happening in Yolo, the opening of large lower priced tracts while JTS sits and high priced Davis sits really drives it down - Davis, WS, Woodland, its all one county.
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