26.6% Decline in home sales in Central Ohio

Well I’ve had a interesting past month with my real estate ventures.

I’ve been doing quite a bit of work for the large banks I work for (Chase, HSBC, BOA/Countrywide/FNMA/FreddieMac).

Anyways, one of the things I wanted to do was to pull a report on Central ohio home sales over the past month (Starting on July 1st) through the 30th , then starting again on August the 1st. From the MLS data I pulled , there has been a 26.6% drop month-over-month compared to 2009 in July, and a 15.5% drop so far in August. This leads me to believe that the housing market is pretty soft, even with interest rates being as low as they are (I’ve seen 3.5% 7-1 arms from our wells fargo affiliate bank).

I’m personally worried a bit as to what will happen with higher interest rates and a low demand market. Obviously I have a bad feeling about where we’re headed, but we’ll have to see where things go.

I’m also debating on whether or not I should do a webshow based on real estate. How many of you would like to see a show on the gory inner workings of real estate investment?