The San Francisco & Peninsulas' Residential & Income Property Resource

  Vinther Properties
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4th QTR 2012 Sales

3rd QTR 2012 Sales

2nd QTR 2012 Sales

1st QTR 2012 Sales

Existing Home Sales, December (10:00): 4.94M actual versus 5.10M expected, 4.99M prior (revised from 5.04M)

Lower, but an improving trend continues and inventories are dropping nicely (4.4 months), at least at this presumed rate of consumption. 

Distressed sales rose to 24% of sales, up from 22%.  Big Picture: they were 32% of sales in 11/11.  The distressed houses are still on the decline, forcing buyers to buy more expensive homes.

The key will be whether they opt to do so, and if interest rates rise they will be less inclined.

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New Home Sales Rise!
New Home Sales, November rose 4.4% to 377K annualized/adjusted, the strongest since 4/10. The unadjusted numbers were similar to the jobless claims: 27K homes sold, the lowest since February.

 More homes are now for sale (151K) and that can be a good thing if it were existing homes as owners finally feel good enough about sales prices to put the house on the market.

Of course these are new homes and what this means is a build in inventory as buyers cool ahead of the unknowns in 2013.

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