2010 Home Sales Analysis
With 20 years of home sales data to review, it is sad to see that 2010 surpassed 2009 as the worst year on record.
What makes this even worse than what we can see in the real estate graphs below is that our population is roughly 20% larger today than it was in 1991.
The relative drop in the market is far worse than the real drop that we see. With a larger local population, there should be more people that need to move, thus recent years would have more home sales than previous ones if there were not market cycles involved.
But market cycles are certainly involved. The surge of home sales from 2002 through 2006 is quite evident in both graphs, and the subsequent drop is just the market correcting itself to the sustainable rate of home sales that we have seen in the past.