This chart shows the decline in the number of single family residences that have sold each year since 2004 in the Truckee Real Estate market. This YTD chart ending September 30, 2009 shows a total decline of 61%. This is just single family homes in Truckee and Donner Summit. This number will improve, as there are currently 79 homes in escrow, and another 28 short sales in escrow. Short sales are a real wild card, but some of them will close before the end of the year. I’m predicting that by year end, the current 2009 decline in units sold will actually be an increase over last year. That would make the 61% number of total decline I used above more like 51%. We’ll wait and see.
Nice graphs Bret! I think the short-sales in escrow are a wild card as you said, but they will probably still close…just as foreclosures which might not be by 2009 end. We will see.
I think the short-sales in escrow are a wild card as you said, but they will probably still close…just as foreclosures which might not be by 2009 end. We will see.