Here we are 18 days into June, let's see how we are shaking out. There have been 237 single family resale homes go pending. Of those 76% have been priced below $300,000. Another 34 were below $400,000 and $33 where above $400,000. That means that 90% of the sales so far have been below $400,000.

If you prorate the sales per day out to the 30 days in the month of June the total sales fall under 500! Now take the fact that we are averaging our sales month to month being 27% less than 2006. Looking forward to year end our total sales could fall below 7000. Lots of coulds and ifs and buts. All based on the facts of what is real in real estate today. Decisions that are made based on fantasy or what someone wants the facts to be hurts the market.

Five hundred sales would have been great in 2000, today they seem pale and weak. What is normal appreciate? 3%, 6%, 10% pick one. If you apply it to 2000 prices we still may have a way to go before we reach normality of value and price in our real estate market.