Thursday, February 14, 2008

NAR: Housing Sales Bust is Everywhere

by Bill McBride on 2/14/2008 01:07:00 PM

The National Association of Realtors reports that year-over-year sales declined in Q4 in 46 states (including D.C.). Sales increased in 1 state (South Dakota from 36K to 39K) and sales in North Dakota were unchanged.

Note: Data isn't available for Indiana, New Hampshire, and Idaho.

Seven states saw sales declines greater than 30%: Nevada (44.2%), Wyoming, New Mexico, Oregon, Arizona, Utah and Maryland.

Another seven saw sales declines greater than 20%: California, Florida, Georgia, Lousiana, Connecticut, Illinois, and Virginia.

This shows the breadth of the housing sales bust. The bust isn't confined to the "bubble" states, the bust is everywhere.

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