Home Sales

With the official start of autumn shortly upon us, home fall shows are showing up everywhere and these annual events draw huge crowds. Some things about fall home shows always stay the same. You are bound to see warm touches and shades of pumpkin. Yet every fall season brings a new and bountiful crop of home décor trends. Surprisingly, some fall home shows even emphasize spring designs.

Spring in Fall

People who look at home furnishings in fall might be preparing to build a home in the coming spring. Therefore, it is not that unusual to see fall home shows include some spring-like styles. Maybe a few pale pastels might find themselves in the company of autumn orange.

Autumn Green

Yes, green is the color of renewal and rebirth, but fall home shows are going 'green' in more ways than one. Of course, shades of green remind those future home owners about the joys of spring. As well, autumn shows are becoming friendlier to the environment.

More stores like "ReStore' in Vancouver have booths at these events. 'ReStore' sells high-quality used (and new) building supplies such as kitchen and bathroom counters, lighting, and appliances. Home owners can find similar 'green' outlets at home shows all across Canada and the US. You will always find the latest green cleaning supplies like AspenClean - the first cleaning product in Canada to be certified by Ecocert (the European regulator of organic cosmetics and food).

Prices at home shows can be more than 50% lower than department store prices. Yet the merchandise can include top quality materials. Shoppers might pick up a cool and classic black granite countertop because someone preferred a lighter shade of granite.

If 'used product' stores did not exist, these building supplies would end up in the landfill. Since more and more people are adopting a green lifestyle, these outlets can now take their rightful place at the fanciest fall home show. 'Used' outlets are becoming the new 'cool' shopping experience with the 'green' crowd.

Design Books

Design books are now the darling of home shows. The design book booths cater to those who 'want' to learn more about design as well as those who 'need' to learn more about design. If you can't afford the designer pillows, you can buy a good interior design book that tells you how to make your own autumn pillows.

Designer books offer support and ideas to home owners. These books are an invaluable resource especially for people on a limited budget. A good quality design book is worth the investment because they offer tons of ideas for every season. Sometimes using the latest trendy colors or fabric can do wonders in recreating a designer look.

Customized Design

Home shows shine the spotlight on local artisans who produce one-of-a-kind products. Custom orders are part of the thrill of home shows. Shoppers can choose from a wide selection of unique items. Customize your home for fall and show off your harvest colors.

What Did You Fall For At Your Local Autumn Home Show?

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Depending on your location, home sales experienced a rise or a fall in August. Within the US, California saw an all-time low while British Columbia, Canada, had a temporary increase in home sales. California experienced a drop in many areas of real estate.

California, US – Fall in Home Sales

Home sales in California fell 2.7% from July. That drop in one month seems small compared to other statistics. Home sales fell 20% from June-July 2010 and 14% from August 2009. As well, the median price ($260,000) of California homes dropped 3% in August from July.

San Francisco Bay Area

Within the San Francisco Bay area, the median home price was $385,000. This figure is a 4.2% drop from the median price in July ($402,000). Home sales fell 1.1% in August from July and 10.9% from August 2009. 6,698 homes were sold last month compared to 7,518 homes in the previous August. This drop puts home sales in the Bay area at their lowest point for the month in eighteen years.

Some potential buyers are waiting for prices to fall further and other people are just waiting to be in a position to buy a home. Despite falling prices and low mortgage rates, joblessness is one factor that is having a huge effect on home sales. As well, first-time home buyers no longer have the Home Buyers' Tax Credit to ease the burden.

Foreclosures

While everything else was falling during August in California, foreclosures increased over July's rate. Foreclosures rose from 35.9% to 35.2%. In the San Francisco Bay area, foreclosures accounted for 26.7% of resales in August compared to 25.3% in July. Foreclosures are, however, down from last year during August – down 42.8% on average in California and 24.8% in the San Francisco Bay area.

Home sales in California fall a second straight month

British Columbia, Canada – Rise in Home Sales

Home sales rose (4.1%) in Canada during August compared to the previous month's purchases. July records indicated that it took 7.3 months to sell a home in Canada. August records point to a 6.9 month wait. Yet experts in Canadian real estate do not expect a continued rise throughout the rest of the year.

"Rising interest rates and a projected slowdown in job growth mean that the Canadian housing market is expected to continue to cool," said Georges Pahud, president of CREA.

Although August statistics might be better, sales in July were not high despite the fact that June saw considerable sales. Most buyers in June, however, were trying to purchase before the new HST (Harmonized Sales Tax) regulations came into effect in July.

August sales are probably a throwback to the incredible rate of sales in 2009. During that year, home sales rose by 66% and prices increased by almost 22%. It is hard for any system to maintain that level of activity so things have leveled off somewhat in 2010.

"I don't see the continuation of a dizzying descent in sales activity," says REA chief economist Gregory Klump.

Some changes in Canadian real estate are just marginal improvements. The average price of a Canadian home during August was $324,928. In 2009, the price came in at $324, 843. Demand has increased (1.9%) since last summer but dropped 16% from the peak in April. The Canadian Real Estate Assocaition (CREA) expects home prices to fall but not at any substantial rate.

Home sales rebound, but it won't last long, analyst says

Are Home Sales Rising Or Falling In Your Area?

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