Real estate sales continue to decrease in St. Joseph, with a roughly $2 million drop recorded in August - down by more than 13 percent compared to last year.

Statistics released by the St. Joseph Regional Association of Realtors showed that sales dropped by $2.1 million, or 13.5 percent, in comparison to last August - from $15.6 million in 2008 to $13.5 million in 2009. The release comes on the heels of Federal Reserve Chairman Ben Bernanke saying the recession is "very likely over" and Wall Street analysts saying there are early signs of stabilization.

However, August marks the third month in a row that home sales have dropped in Buchanan County compared to last year. In March, sales gaps from 2008-09 began to close and, in May, 2009 sales outpaced the previous year by $739 a 3.4 percent increase.

Since that time, this year's sales have steadily fallen behind - down by $568 in June, $996 in July and now $2.1 million in August.

Overall, 2009 property sales are also lagging behind by more than $8.6 million - or 9.19 percent - with totals sales at $85.6 million in August, compared to $94.3 million the same month in 2008.

Mike Jackson, president of Coldwell Banker General Properties, said he was surprised to see overall numbers drop in light of increased business for his company.

"I'm shocked. We've been as busy as we could possibly be around here," Mr. Jackson said. "In my experience, looking at any single months can be deceptive because you can have a lot of buyers, but home buyers might not close their deals by the end of the month, which can throw off those numbers."

He said September statistics might show a different story, as deals come together from August along with those from first-time homebuyers participating in the housing stimulus deal that ends in December.

"I think as we see those numbers go through, we'll be a lot happier," Mr. Jackson said.

Jeff Schmucker can be reached

at jeff.schmucker@npgco.com.