Industry Insights Uncategorized

June CAR Trends Report: Divergence in National and State Markets

July 7, 2010

The June 2010 CAR Trends Report has just been posted to the Research Data section on the Marketing page of SAVI.
In it, CAR reports that while sales in both California and the US bottomed out in late 2007, statewide sales had rebounded to pre-peak levels by late 2008 and have sustained those sales levels since then.
Existing single-family home sales in California increased 14.1 percent from April to May, the biggest monthly gain since July 2008. This was due in part to buyers who took advantage of both the federal and California state tax credits.
Although US sales have shown little upward momentum after hitting bottom, sales did rise earlier this year from 4.6 million homes in February to 5.06 million in April—the highest level since November 2009. Additionally, the US sales figure in May was 17.5 percent higher than it was a year earlier.
To access the full report, click here.

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