Housing Market Data
We ended the year with a rocky December, which
isn’t uncommon for the winter months, but this
was an especially difficult 4th quarter for the
housing market. The drop in year over year sales
volume for December was 30% in terms of deal
flow, but 38% in terms of dollar volume. The
culprit was simply interest rates, as cash deals
increased by 11% while financed deals fell by
41% year over year. Financed deals went from
80% in 2021 to 68% in 2022.
Year over year we see a 26% drop in deal flow and 17% in dollar volume. Consistent with what we have seen the last few months, the beating has been the < $500,000 price range.
As we reported earlier this month, price per square foot appears to have crested and is just now starting to slip in the lower ranges.
Here's Some Double Speak
Alan Jope, CEO of consumer products behemoth Unilever, holding
forth to CNBC on Tuesday morning from Davos, Switzerland:
“We know for sure there’s more inflationary pressure coming
through in our input costs. We might be, at the moment, around
peak inflation, but probably not peak prices.”
What else happened in December other than single family?
- Mobile homes (with land) sold for
- $1,485,500
- 4 Condos sold for $1,350,000
- 3 Time Shares for $12,950
- 8 Commercial (non Ag) sales for $8,174,618
- 2 large land sales for $6,300,000
- 30 sales for other land, lots, and Ag not in
service for $7,341,829 - 19 Personal Representative Deeds filed covering 23 parcels
- 1 Multi Family for $650,000