October 2011 Home sales volume
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34,087 new and resale home transactions closed escrow in California during October 2011, up 4% from 32,669 transactions one year ago. October is the third consecutive month in 2011 in which home sales volume surpassed the corresponding month in 2010. [For more extensive history and analysis of monthly and annual home sales in California, see the first tuesday Market Chart, Home Sales Volume and Price Peaks.]
October’s numbers are down 4% from September; a typical drop for this time of year.
The recovery’s overall bumpy plateau trend continues to reflect the fact that home sales volume leveled in 2011, following a decline that set in after mid-2010. Annual home sales volume is expected to remain at or below 2010’s numbers through the end of 2012 (price movement, however, will lag for even longer).
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