Interest Rate Roundup

Monday, November 20, 2006

State and metro area home price/sales data out

The National Association of Realtors just released its data on state and metropolitan area home sales and prices for Q3. We've already had a look at the month-by-month national stats ... these figures allow you to zero in on localized trends. A few that stand out:

1) Like Icarus, those markets that flew the closest to the sun are the ones really getting burned. Sales dropped 12.7% nationwide between the third quarter of 2005 and the third quarter of this year. But they tanked 34% in Florida ... 38% in Nevada ... 23.7% in New Jersey ... 28.6% in California, and so on.

Here's the PDF link to the sales stats, broken out by state:$FILE/STATES.pdf

2) Price declines are showing up in many more locations. Of 148 metropolitan areas tracked, 45 suffered price drops (-3.8% in Appleton, WI ... -8.5% in Bloomington-Normal, IL ... -3.2% in Deltona/Daytona Beach/Ormond Beach, FL ... and -5.5% in Providence/New Bedford/Fall River RI/MA to name a few). A year ago, only 6 of 147 metros tracked had price declines.

Price data link (PDF format):$FILE/MSAPRICESF.pdf


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