Home Sales 2008 Springfield, Illinois; Stable Market Changing
This is a preliminary report for home sales in one of the countries most stable real estate markets for the month of June in the second quarter and first half of 2008. The numbers will change slightly as a member brokers of the Capital Area Association of Realtors have to by 3 July, to report sales for the month of June. Do not expect any major changes.
The one trend that stands out is the median sales price. On the basis of a 1st 1% increase in June to $ 114,750 in the second quarter increased $ 500 or less than half a percent to $ 107,500 compared with 2007. The first half of 2008, median sales price amounts to $ 3000 $ 105,000, or 2 9% over 2007. The reason stands out, this is a significant slowdown in the growth medium selling price. This is probably the result of record sales and less inventory.
Closed home sales for June stand at 360 at the time of the report or down 21st 7%. Expect to be reported for a few more sales, decrease with a decrease from 90 to 95 home sales, or 19 to 20% from June 2007.
Home Sales are Closed for the second quarter, down by 164 or 13 1%. The slowest second quarter of this decade. With sales up in June, do not expect a recovery in sales closed in July.
Closed home sales in the first half of 2008 to decline by 322 to 1755 or 15 5%. Final figures will probably be completed from 1760 to 1765 closed home sales. Stands after the expiration of 101 listings in the last 48 hours, the number of homes listed for sale just 1900th Significantly more than 6 months inventory of homes for sale.
Turnover fell by up to 80 or 16 8% in June, by 173 or 11 7% in the second quarter and of 364 or 13 6% in the first half of the year. Not with the tightening of lending standards, tightening the assessment values, and a home seller’s greatest nemesis inspection of the apartment, about 20% of revenues close to expectations.
The slow down in most markets in the Midwest in 2007, the recent pull back in consumer spending resulting from high fuel prices, which raise the price of virtually all consumer products caused indicative. Just ask the automotive industry, or Starbucks.
With a complete lack of leadership from the Democrats in the state in the U.S. Congress do not expect any price relief at the pump anytime soon. Yesterday, Harry Reid The remains had nothing to increase production of oil by standing with the environmentalists say, oil and coal make us sick to help. Oil and coal make the economy healthy, Senator Reid. Lower fuel prices would create lower food and other consumer goods prices and employment.
This is 2008, when production and use of these energy sources can be done in an environmentally safe manner. Ask a miner, that having a job, a working single mother or a construction worker who wants what they think. Senator Reid would rather starve to death, the miner, his family, and we are paying more at the pump. For the Democrats say they stand for working people just rhetoric, their actions hurt the working people. All for personal political gain. Time for Reid to go, or start acting in the best interest of the people.
The people in this country better wake up to the fact that the Democrats, the economy in favor of the promotion of climate change (a / k / a global warming) for political purposes, because it is used by extremist environmental lobbies and philosophy to destroy the property. This is nothing more than promoting a movement to take control of your life to win. It has nothing to do with the environment.
I think that the people of America had better pay kick the Democrats (and Republicans) under the bus, the extreme actions by the inaccuracy of the climate change over the price of gas / food / energy, supports paralysis of the economy. Time for a return to reason and practical programs that will be the price of gas / reduces food / energy.
Enough of the liberal political correctness to feel good environmental and inform the people about their political ambitions.
