A few bits of interest information from Leslie Appleton-Young's presentation yesterday.
California sales for detached homes is down 27.8% YTD - Aug 06 to Aug 07, however the Consumer Confidence Index remain relatively good.
2007 projected sales of 367,500 is the lowest since 1995's 342,540.
Statewide market for detached homes is weaker for units selling under $1 million.
$500K and below down 24.6% YTD
$999K-$500K down 24.2% YTD
$1 million and over down .05% YTD
Median price of existing detached homes in California is up 2.0% YTD, in Southern California up 3.8% YTD and Los Angeles County up 2.6% YTD.
Unsold inventory index for California in Aug 07 is 11.8m months and Los Angeles County 13.3 months.
New housing permits in California down 30% YTD.
Forecast for the California Housing Market
2007 single family home resales 367,500 down 23%
2008 single family home resales 334,500 down 9%
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