WHAT WERE THE ACTUAL NUMBERS?

The total number of sales for July was 2,527. That number includes 1,628 single-family resale, 769 condo resale, and 130 new home sales. The total number is down 26.2% from June. (Remember the tax credit lapsed.) And it was also down 19.2% from July of ’09. Of course July was when the investors really started cranking last year, and has been busy ever since. In fact, the distribution of sales over price ranges would indicate that the housing market does, in fact, have some legs, somewhere. All price ranges were off in volume, but mostly on the lower end. The higher end was barely off, less than 5%. This means that move up buyers, buyers with cash and ability are staying in the market and they are buying homes.

The actual breakdown is as follows: a) under $400,000 – 1,026 sales b) $400,000 to $500,000 – 404 c) $500,000 to $600,000 – 305 d) $600,000 to $700,000 – 243 e) over $700,000 – 514. Adding up the properties that would qualify for “Jumbo Conforming” loans and you have nearly half the total sales at over 1,000 properties. This would seem to indicate a more robust market than economists would have you believe. Well, its food for thought anyway.