Spokane Home Sales Fall 40% year over year

Housing sales plunge in October – Office Hours – Spokesman.com – Nov. 8, 2010.

From 509 in October 2009 to 304 in 2010.

The steep decline is blamed on the presence of government tax credits/subsidies to new home buyers the year before.  Which is both a true statement and silly when we look at the full context.

From 2002 to the fall of 2008, home sales averaged, typically, over 1,000 to about 1,500 per month and in 3 years were 2,000 or more in the early fall. (Update: I’m not sure I trust that source. This one has different numbers.)

Wow.  A decline from 2,000 to 300 per month.

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