Well, the market seems to be a little warmer than we predicted it would be back in January. I'll just get right to it - here are the condo closing numbers through June 30 (half of 2009).
Quick note: I never posted numbers through 06/15. The rolled up numbers are here...
Rolled-up demand is still down 43% from 2008. This continues to improve from the -55% we saw back in February and March. Clearly the year started off REALLY bad for home sellers. The big question is - if the market ends up down 40% from 2008, what will that do to prices? There's no way we should see anything other than falling prices through 2010. The market looks better than it did in the beginning of the year. But don't confuse that with a sign of recovery.
I like to make the update a little different every time. So this time, I'm going to include closing numbers by neighborhood on the north side. Remember - the 2009 numbers are the latest full-year projections for closings:
More fun on the way. I have numbers for single-family homes now too! Stay tuned...
Comments