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NEW chart posted showing 3rd quarter residential sales from 2001 thru 2010 in Santa Fe city and county. Note the totals overall and in each range are still lagging behind recent years. Which brings up another subject: just how valuable and reliable and useful are home sales stats from say 5 years ago when anyone could borrow huge amounts toward buying a home they could not afford? Shouldn’t we be qualifying past sales numbers as inflated, overstated and not indicative of anything relevant to todays activity? I mean, why should we say we need to get back to the level of sales from 2005 when those numbers were falsely arrived at by some wild lending practices and some lust for paper wealth on the part of some home buyers and owners. Clearly many lost their way and forgot homes were places to live and raise families and plant a garden. How many quick flip investors planted gardens alongside homes they purchased? So let’s think about getting to a percentage of 2005 peak year sales. What about say 70%? I would think if we could get to 70% of 2005 sales totals, we would be jumping for joy. Lets take a look: 2005 = 794 sold 3rd quarter. So 794 X .7 = 555 home sales. Compared to the actual 2010 number of 340, that would be fantastic. Would you settle for 50% of 794? That would come out to be 397, still more than our actual 2010 total 3rd quarter. Yes, its rough and tumble out there with few thriving and most barely surviving. The statistics hide much more painful subjects and images you do not need me to mention. Yet I am showing up for work tomorrow and not yet giving up. You also, I hope.
