In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Tuesday, July 17, 2007

DataQuick: Record Low Orange County June Home Sales

by Calculated Risk on 7/17/2007 12:40:00 PM

Jon Lansner at the O.C. Register has the DataQuick data for June: O.C. home price a record high, sales a record June low

Sales fell to 2,641 homes sold, or 31.6% below a year ago. It's the slowest-selling June in the 20 years DataQuick has tracked the market, and it follows the worst May on their books as well. The old bottom was 3,364 in June 1995.
The price data is skewed (see story) and probably doesn't reflect the reality of prices in Orange County. But the decline in sales is stunning. Note: DataQuick will release sales data for all of California over the next couple of days.