Saturday, June 17, 2006

Preliminary April/May Sales Data

DC sales records for April and May haven't been posted by the city yet. However, reports from MRIS give an indication of the market's state. MRIS' data is limited to existing home sales so it's difficult to compare to my data which includes sales for new housing units.

However, according to MRIS in April 2006 YoY unit sales declined 17.47%, average prices declined 0.97%, and median prices rose 2.55%. In May, YoY unit sales declined 20.33%, average prices increased 6.26%, and median prices decreased 1.18%.

Pricing data aside, the key indicator that remains consistent for 2006 YTD is that YoY demand continues to decline. While pricing [average and median] continues to fluctuate - one could amost say treading water - we're not seeing the huge increases typical of the past few years.