Hi Everyone,
I just did some research on our Gulf Coast MLS system to compare stats for the Mississippi Gulf Coast Area for the months of May & June from 2007 till today.
What I have seen is a downward trend in the number of homes sold for each period.
In 2007 for the time of May 1 to May 30 there was 416 properties sold,
In 2007 for the time of June 1 to June 30 there was 465 properties sold
In 2008 from May 1 to May 30 there was 280 properties sold
in 2008 from June 1 to June 30th there was 354 properties sold
in 2009 from May 1 to May 30 there was 231 properties sold
in 2009 from June 1 to June 30th there was 230 properties sold
in 2010 from May 1 to May 30th there was 291 properties sold
in 2010 from June 1 to June 30th at noon, there were 190 properties sold.
There is still time for closings to be reported today and tomorrow for today, but I don't believe we will see more than 30 or so units added to this Junes number. So this June has really differed from years past in that it has significantly decreased in closings as compared to the month of May.
I don't know of any factors that would contribute to that decline other than the BP Oil Spill in the gulf. Interest rates and prices of homes are both low, the economy while slow, is no longer dipping lower. While the tax credit ended in April and could be one of the factors, the sales to enjoy the tax credit don't have to close until the end of June (Now that might be changing too). I am just speculating here and not trying to pin the blame on any one cause, but I do think further investigation should be pursued. What do you think?
Gerard Maher Gulf Coast Realty, serving the Missisippi Gulf Coast
