I just put the finishing touches on the November, 2008, Gwinnett County Georgia Market Report. It is pretty interesting. For the first time in a while there is something that was unexpected that snuck in on me..
If you didn't catch it, when the numbers were updated for Sept., there was an increase in sales from the previous year...
Yes, I said increase in sales over the previous year!
Of course, there is a caveat. In Sept. of 2007, we were hit with the worst of the Sub-Prime Mortgage Meltdown. It wasn't the most serious month, but since the excrement hit the rotating air mover at the end of August and beginning of September, there were a lot of sales that fell through or were at least delayed as buyers scrambled to cover financing.
The October sales will be tough, because many of the sales that would have taken place in September, 2007, did close in October. However, November and December sales were pretty weak.
Looking forward, I see Sales v. Last Year to struggle in October, but look stronger going forward. This is based on recent activity that I have been seeing, anecdotal evidence and the trends in the market looking back.
It will be interesting to see the October numbers update.
from LaneBailey.com
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