I was checking out some statistics myself this week, after noting that median price sales for
December, thus for the entire last quarter of 2008, were up from the year-to-date average, unlike the prior year, which was still on the decline.
Does this mean an end in sight to the real estate downturn? Maybe so--optimists like myself think so!
Here's what FAR has to say:
ORLANDO, Fla. - Feb. 12, 2009 - Sales of existing single-family homes in Florida rose 13 percent in fourth quarter 2008 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors® (FAR). A total of 30,163 existing homes sold statewide in 4Q 2008; during the same period the year before, a total of 26,635 existing homes sold statewide. It marks the second consecutive quarter that Florida has reported higher existing home sales; sales activity rose 5 percent in 3Q 2008 compared to the same period the previous year, according to FAR.
I must mention, I had gotten myself into such a snit over the whole media bruha again, while compiling statistics for a speech I gave last night--some of the REALITY which was revealed is that, yes indeed, those market-callers who say that Real Estate has traditionally maintained a 5-year cycle were correct, at least, in Pinellas County--take a look at the pretty chart I made which actually shows the real estate 'bubble', and where we are now--right back to where we were some 5 years ago:
I won;t go into any long-winded explanation of how I arrived at the numbers here--let us suffice to say I melded sales statistics into an apples-to-apples comparison for charting purposes. Oh, yes--numbers can be FUN when there are charts to be made!
Here's another, which targets the exact month and year that the bubble stretched to the breaking point:
Cool, huh? Please note--we are NO DIFFERENT in terms of real estate sales RIGHT NOW than we were in...oh, say--2004?
Food for thought...
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