Brandon Nelson

Running Out of Inventory

Every month, First American Title in Bellingham sends us the statistics below, showing all sales activity in Bellingham and the County areas. It compares December and year-to-date totals from ‘08 and ‘09.

December of ‘08 was grim, with the global markets recently coming unhinged as banks began folding and government bail-outs ramped up. The heavy snowfall in Bellingham certainly didn’t help matters either.

So it’s no big surprise but-still-great-news that December ‘09 just ROCKED over ‘08 with sales volume climbing from just over $21 million to just over $29 million!

The other trend you’ll find on this chart is the severe drop-off in new home sales, down 59% year over year for the month of December. We’re running out of new home inventory! And when demand gets strong enough, some bank out there is going to start lending spec house money again, guaranteed. 2010 is the year, just wait and see!

Enjoy the stats, and call me with any questions.

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This entry was posted on Monday, January 25th, 2010 at 1:58 am and is filed under Market Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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