Santa Barbara Home Sales Activity For August 2007

2007 in the South County of Santa Barbara has been a year where the number of transactions appeared to be on a real come back over last year through May. Then June's numbers were slightly lower than last year and July's number was significantly better than 2006. The August number has dipped again to be slightly lower than 2006. There isn't any doubt that the credit crunch drama has played a role in causing the number of transactions to slow down a bit. I think this may be good news in the not too distant future. I'm hearing agents tell me that buyers are waiting on the side lines a bit until their are some better loan programs and or prices drop a bit. What that means to me is the this pent up demand should start surfacing shortly as people start getting a little confidence back. The charts are showing every area being about the same as the 2006 number for August. Goleta, Montecito, Santa Barbara are all down a bit while Carpinteria/Summerland is up a few transactions for the month. Remember you can click on the images to view a larger chart.