Home Sales in the Toilet, Auto Sales Up

I’d call this a sign of the times. The Rochester Business Journal is reporting that home sales in Monroe County plummeted 11 percent this month, while automobile sales continued to climb. Unfortunately, the RBJ did not report on what types of cars are being sold. Based on other reports about plummeting SUV sales, I suspect that the answer is “a whole mess of Priuses.”

Rochester Business Journal:

Sales of existing homes in May dropped 11 percent compared with a year ago, the Greater Rochester Association of Realtors Inc. reported Friday. Though May closings, at 928, were up 10.7 percent from April, which posted 838 closings.

Rochester Business Journal:

Sales of new vehicles in Monroe County continued to increase last month, while used-vehicle sales fell in May, the Rochester Automobile Dealers’ Association Inc. reported.

By Tommy Belknap

Owner, developer, editor of DragonFlyEye.Net, Tom Belknap is also a freelance journalist for The 585 lifestyle magazine. He lives in the Rochester area with his wife and son.

1 reply on “Home Sales in the Toilet, Auto Sales Up”

The whole industry prices for SUVs and trucks has declined nearly 25 percent, which is approximately four times the normal depreciation expected over this period and well in excess of the depreciation expected over a full year.”

Last week was a busy week for the dealership because of the deals the stores have going on – 0 percent interest for 72 months vs. the typical 6.9 percent interest. These deals are just to get rid of SUVs.

BUT hybrids are in high demand and that is good for the new direction we need to take in respect to fuel efficiency

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