Sales price per square foot has decreased in July. For condos and houses the amount paid per square foot has decreased to the lowest point of anytime since Jan 2007. From Mike's stats:
SFH --- July 1-24: $289 ($298) June: $305 ($309)
Condo - July 1-24: $297 ($305) June: $303($309)
Also from Bob Truman's blog Sales continue to improve I would like the point that looking at YOY change only in sales can be confusing.
Single family home sales volume, after being down 34% for the first five months of 2008, showed an 18% drop in June, and July sales are down 12% compared to 2007.What Bob fails to mention is that some of that difference is attributable to the deteriorating conditions throughout 2007. So while the may have been some seasonal improvement late this spring there is also the fact that we will begin to compare to sales at the beginning of the downturn. See this chart showing how sales in 2007 compared to 2006. Consider also that smaller year over year losses still show year over year losses!
Remember comparing to ridiculous five year averages or ignoring "boom" years when looking at sales this spring? Sorry can't find the links maybe someone can help me out?
