Following on the heels of last week's disappointing numbers today new home sales came in at a higher than expected 323,000, jumpiong 7.3% for the month!
On the local front, average sale prices have risen slightly over the last 6 months as shown below:
MonthSale Price, Average
| Dec 2010 | $533,342 |
| Jan 2011 | $505,809 |
| Feb 2011 | $531,923 |
| Mar 2011 | $550,521 |
| Apr 2011 | $562,889 |
| May 2011 | $581,934 |
Days on market are trending slightly higher:
MonthDays to Sell, Average
| Dec 2010 | 103 |
| Jan 2011 | 94 |
| Feb 2011 | 94 |
| Mar 2011 | 92 |
| Apr 2011 | 89 |
| May 2011 | 104 |
Overall the volume or number of sales is down:
MonthSales, Number of
| Dec 2010 | 84 |
| Jan 2011 | 60 |
| Feb 2011 | 55 |
| Mar 2011 | 74 |
| Apr 2011 | 77 |
| May 2011 | 48 |
Data for May is not complete, however we're seeing a slowdown in number of sales as well as a lengthening of days on market. This may be pointing to a slower summer sales season, but it's a bit early to tell. We'll keep our eyes on economic and jobs news as well as the lending arena. Overall the data is pointing to a possible slowdown.
