Home Sale Boost Fizzles

Not a good trend

Voice of San Diego’s Rich Toscano has a companion post to his previous one that was linked to yesterday. This article, “Home Sale Boost Fizzled Out in June” shows without doubt that San Diego real estate has continued its slide now that government support has dried up:

Unlike with pricing, sales volume actually did increase for the month of June. But the increase was weak: the nearby graph shows that despite the expiring tax credit, June’s monthly percent increase was the weakest in any of the past four years.

It would seem that the rush to the double-dip finish line mostly used itself up in May after all.

Rich finishes with this little bit of prophesy:

We may get to see what a somewhat less artificially propped-up market looks like in the months ahead.

Truer words have never been spoken.


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