DataQuick Numbers Down Again, Long Beach

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Nothing really new with the September numbers from  DataQuick, it was abysmal.

Here are a few numbers that struck me:

5,014 new and resale houses and condos sold in the nine-county Bay Area for September. It’s down 31.3 percent from 7,299 in August, down 40.1 percent from 8,374 for September 2006. The strongest September was in 2004 when sales totaled 12,868.

Last month was the slowest September in DataQuick’s statistics, which go back to 1988.

To go back to my post of a few days ago saying how many lenders are telling us to go out there and get it:

“”A lot of escrows just didn’t close in September because the buyers couldn’t get financing. Some of those sales might close this month or next, but many of the deals are going to be put on hold or die on the vine. Jumbo financing has become more available the last few weeks, but lenders are being more cautious than before, and the loans cost more,” said Marshall Prentice, DataQuick president.”

The typical monthly mortgage payment that Bay Area buyers committed themselves to paying was $2,973 last month, down from $3,171 the previous month. It was up from a year ago, however.

Well, there you go folks. How about making sure those homes are priced to sale? And even then, how about finding serious lenders that will back you up until the last day of escrow? I still like this period. It’s a redefining moment.

Thanks DataQuick.