April Market Update
In this edition of Tuesday Morning Coffee John goes over April's Market statistics compared to April of Last year.
JOHN: Hey, John Jones here with another edition of Tuesday Morning Coffee. Today, we’re going to be talking about April numbers. Something I think we need to think about and we need to take these numbers with a little bit of grain of salt when we compare them to April of 2010, is last April and May we were in kind of a feeding frenzy of everybody still trying to get the tax credit. So these numbers are going to be a little distorted because of that.
But our numbers this April are down. In closed sales, we’re down 35% over last April, and once again, a lot of that was due to the tax credit. Our under contracts are down 18% over last April, which there again, the tax credit ran out in May, so that number is also affected by the tax credit. But what’s kind of interesting is our inventory is down. Our sales are down, but our inventories are down, which that surprises me a little bit. Our inventory over last April is down 18% as well.
So we’re going to be looking forward to next month. I feel like it’s going to be pretty much identical to this again because the tax credit was still in effect. I think June, July, August are going to be where we can get a clearer picture of where our housing market is trending. So anyway, if you need anything or need this information e-mailed to you, please give us a call at 867-3020 and have a great week.