Gooooo Tustin! Keep those sales up!
Per Jon Lansner’s post “Mid-Dec. O.C. home sales off 44%“, while most of Orange County continues to see a drop in sales, Tustin actually saw an 81.8% increase in the 22 business days prior to December 14, 2007 versus that in 2006. According to Lansner, the trends overall for OC were
| Slice | Price | Vs. ‘06 | Sales | Vs. ‘06 |
|---|---|---|---|---|
| House | $634,000 | -3.9% | 1,053 |
|
| Condo | $408,750 | -6.0% | 386 | -48.6% |
| New* | $667,500 | -7.9% | 361 | -27.4% |
| All | $580,000 | -7.0% | 1,800 | -44.1% |
Chart from OC Register.
Now, if you ask me, this is either encouraging news or a result of seasonal difference… what do you think?
On the one hand, it’s encouraging to see that Tustin’s sales were up from the same period as last year. However, on the other hand, we traditionally see a slowing during the holiday season and this 81.8% could just be an odd year for seasonal trends.
Here’s my two cents: Last year we weren’t so bad off. There was more confidence in the market, although it was going down. Yes, there was a slowing in sales during the holidays, but that was considered “normal.” Now, this year, more and more folks were desperate as the new year neared and more buyers took advantage of distressed sellers.
Is Tustin truly making a comeback? I doubt it. Although, it makes us feel all warm and gooey inside seeing those numbers!
