The chart below gives a month-by-month analysis of Grand Rapids real estate sales and listings from 2009 and thus far in 2010. And despite all the dismal forecasting in the news, the Grand Rapids real estate market isn't as far behind from last year's sales as one might think. At the end of September 2010, Grand Rapids home sales were up from 2009's sales at the end of the third quarter.
If the trend can continue into the forth quarter, which will largely be impacted due to the foreclosure moratorium still in effect with some lenders such as Wells Fargo, Realtors will be in a good position for a strong start in 2011.
And the sales trend is not only in West Michigan, it's throughout the country. From CNNMoney.com with Anally Cents reporting:
"Sales of previously owned homes rose 10% to a seasonally adjusted annual rate of 4.53 million units last month, the National Association of Realtors reported Monday. That was up from a 4.12 million rate in August.
The report came in much stronger than expectations. Economists had forecast sales to edge up to an annual rate of 4.25 million units, according to consensus estimates from Briefing. com.
The gains of the past two months were welcome news, after home sales sank 27% to their lowest level in 15 years in July. While some economists say a housing recovery is underway, a foreclosure moratorium in October may have a negative impact on next month's report."
All numbers are as reported to the Grand Rapids Association of Realtors.
Grand Rapids Association of REALTORS®
Comparative Summary Report as of 10/20/10
Prepared for Grand Rapids Assoc of REALTORS
| Listings | Listing Dollars (in Thousands) | |||||||
| Month | Year-to-Date | Month | Year-to-Date | |||||
| This Year | Last Year | This Year | Last Year | This Year | Last Year | This Year | Last Year | |
| January | 2,345 | 2,195 | 2,345 | 2,195 | 330,118.0 | 339,101.3 | 330,118.0 | 339,101.3 |
| February | 2,407 | 2,220 | 4,752 | 4,415 | 365,884.6 | 325,467.9 | 696,002.6 | 664,569.3 |
| March | 2,976 | 2,387 | 7,728 | 6,802 | 479,022.6 | 380,892.4 | 1,175,025.3 | 1,045,461.7 |
| April | 2,971 | 2,547 | 10,699 | 9,349 | 439,055.5 | 387,729.8 | 1,614,080.8 | 1,433,191.6 |
| May | 2,133 | 2,493 | 12,832 | 11,842 | 326,774.2 | 423,922.7 | 1,940,855.1 | 1,857,114.4 |
| June | 2,351 | 2,554 | 15,183 | 14,396 | 341,772.4 | 405,742.1 | 2,282,627.6 | 2,262,856.6 |
| July | 2,186 | 2,466 | 17,369 | 16,862 | 871,612.9 | 387,641.5 | 3,154,240.6 | 2,650,498.1 |
| August | 2,130 | 2,303 | 19,499 | 19,165 | 652,640.7 | 346,983.2 | 3,806,881.4 | 2,997,481.4 |
| September | 1,918 | 2,303 | 21,417 | 21,468 | 355,945.2 | 346,335.3 | 4,162,826.6 | 3,343,816.8 |
| October | 1,105 | 2,313 | 22,522 | 23,781 | 218,332.9 | 364,155.7 | 4,381,159.6 | 3,707,972.5 |
| November | 0 | 1,683 | 22,522 | 25,464 | .0 | 235,599.2 | 4,381,159.6 | 3,943,571.7 |
| December | 0 | 1,559 | 22,522 | 27,023 | .0 | 216,127.0 | 4,381,159.6 | 4,159,698.7 |
| Listings Last Year (Units): | 27,023 | Listings Last Year (Dollars): | 4,159,698,792 |
| Year to Date (Units): | 22,522 | Year to Date (Dollars): | 4,381,159,602 |
| 83.34 % | Last Year vs Y-T-D: | 105.32 % |
| Sales | Sales Dollars (in Thousands) | |||||||
| Month | Year-to-Date | Month | Year-to-Date | |||||
| This Year | Last Year | This Year | Last Year | This Year | Last Year | This Year | Last Year | |
| January | 849 | 818 | 849 | 818 | 86,647.9 | 74,165.2 | 86,647.9 | 74,165.2 |
| February | 1,001 | 871 | 1,850 | 1,689 | 108,651.7 | 79,277.2 | 195,299.7 | 153,442.5 |
| March | 1,319 | 1,054 | 3,169 | 2,743 | 148,214.2 | 99,748.1 | 343,514.0 | 253,190.6 |
| April | 1,529 | 1,094 | 4,698 | 3,837 | 188,096.0 | 103,916.8 | 531,610.0 | 357,107.4 |
| May | 771 | 1,079 | 5,469 | 4,916 | 86,910.9 | 117,240.7 | 618,521.0 | 474,348.1 |
| June | 803 | 1,164 | 6,272 | 6,080 | 131,165.9 | 130,979.4 | 749,686.9 | 605,327.6 |
| July | 758 | 1,129 | 7,030 | 7,209 | 91,933.9 | 131,337.3 | 841,620.8 | 736,664.9 |
| August | 901 | 1,172 | 7,931 | 8,381 | 100,527.5 | 141,627.2 | 942,148.4 | 878,292.2 |
| September | 893 | 1,154 | 8,824 | 9,535 | 99,022.6 | 125,292.9 | 1,041,171.1 | 1,003,585.2 |
| October | 478 | 1,136 | 9,302 | 10,671 | 52,242.4 | 124,470.9 | 1,093,413.5 | 1,128,056.1 |
| November | 0 | 731 | 9,302 | 11,402 | .0 | 80,001.1 | 1,093,413.5 | 1,208,057.3 |
| December | 0 | 727 | 9,302 | 12,129 | .0 | 76,881.7 | 1,093,413.5 | 1,284,939.0 |
| Sales Last Year (Units): | 12,129 | Sales Last Year (Dollars): | 1,284,939,079 |
| Year to Date (Units): | 9,302 | Year to Date (Dollars): | 1,093,413,586 |
| 76.69 % | Last Year vs Y-T-D: | 85.09 % |
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