On the highway to a real estate recovery
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The trail to a recovery in home sales volume is blazed by auto sales.
California auto sales decreased in April 2013. Auto sales are 2% lower than a year earlier. The latest report for home sales volume showed a slight increase in March 2013 from the year earlier.
Auto sales were elevated in 2012 14% over the previous year. This is a positive sign for home sales volume in 2013. However, the rapid increase in auto sales does not indicate an equally quick rebound in home sales. The enduring slowness in job creation, tightened mortgage standards and lack of end-user homebuyer demand signal that home sales volume will increase only marginally in 2013.
The rest of this content is only available to first tuesday Members. If you are a current first tuesday Member, please login above. To sign up, visit firsttuesday.us! is the writing staff comprised of legal editor Fred Crane, In-House Broker Consultant Fernando Nunez and writer-editors Connor P. Wallmark, Giang Hoang-Burdette, Jeffery Marino, Carrie B. Reyes, Sarah Cantino, Matthew Taylor and Matthew Shade.End of free preview
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Car sales are up because people are leasing (renting) and flipping every few years not keeping them long term. So an ongoing car payment is not going to help the “tight” buyer save or qualify for a home!
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