Friday, May 19, 2006

House Sales Data: A Select Sample

by Ken Houghton

Following up on Tom's post about housing prices, one of our local realtors has started sending out a post card noting the sales for the previous month in the area.*

I now have three months of data (19 sales in January, 18 each in February and March): not enough for a thorough analysis, but enough to put together a reasonable table:

Don't get me wrong; high season is still coming, but houses in this NYC suburb aren't generally selling "before they're on the market" anymore, and the first Open House isn't creating a Major Bidding War.

It's not that several people (self included) aren't sitting on major appreciations from when they bought; it's just that the market is weaker, and hardly a time for speculating. And no amount of NAR "many metropolitan areas are still showing double-digit annual gains" will take away from that reality.

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