Monday, September 25, 2006

Sacramento Regional Real Estate Trends for September 23, 2006

Just a quick one this week because I’m swamped. I’ll have a more detailed commentary for this weeks stats on Saturday.

Four-county inventory was up slightly this week:


However, pending inventory in Sacramento County dropped yet again, to 4.8% of the market:


Flipper market spread continued to shift toward zero for both Sacramento and Placer:



Flipper inventory increased in all four counties this week, while the pricing trends continued:








11 comments :

JR said...

Very interesting. No drop in inventory, just a drop in pending sales. There is a big signal for future price reductions.

Anonymous said...

Wait until the relistings start showing up. This joint will look like Houston in the early 1980's

Anonymous said...

Especially since our Northern CA oil industry has hit such a wall!

Looks to me like inventory has been relitively flat for the last 8 weeks. Anything can affect pending sales for 1 week...me I was packing my garbage bags with some of this blog BS.

Thanks for the info!

Anonymous said...

It is getting real gory.

Any more pot houses being found by the cops in your area?

Max said...


Any more pot houses being found by the cops in your area?


There were actually four more busts over the last week. I can't wait until all of the facts come out...

Max said...

Especially since our Northern CA oil industry has hit such a wall!

Nope, but our housing industry sure has.

Looks to me like inventory has been relitively flat for the last 8 weeks.

Yep, it sure has. I wonder why nothing is selling...

Anything can affect pending sales for 1 week...

How about for five months? Check the graph.

me I was packing my garbage bags with some of this blog BS.

Nothing here but statistics, my friend. So, do you believe the stats or not?

JR said...

Anon says...
"Anything can affect pending sales for 1 week..."

Sure. But nothing affects pendings like cancelled sales! I heard something like 30% of the new home sales are cancelled and the percentage may be higher on resales. Buyers drive down the street a week after making an offer and see a better house at a lower price on the next block.

Yes, Anon, nothing affects pendings like having no deal at all...

Anonymous said...

Great San Diego Housing Flip site

http://thisoldhouseflip.blogspot.com

wannabuy said...

Question:
Why did flipper market share seem to spike?

Anon 3:49. You have a lot of anger on a statistics blog. If you don't like the facts... tough! Its what they are, deal with it. Oh, get a username.

Neil

IS THIS THE END OF REAL ESTATE AS WE KNOW IT? said...

Thank youall for the responses! Did I strike a nerve?

Why did the flipper market share seem to spike? does anybody know?

The 30% cancellation rate was for new tract homes last fall and this spring - now history. Not happening now. Doesn't affect pendings because "pendings" are "resale stats" not new home stats.

Inventory has flattened because homes are either being pulled from the market or sold at the same rate as being listed.

Yes the CA housing industry employment is down, in Houston it was both housing and oil. Here people with jobs can afford homes at some price - to be determined. Houston, their weren't people left with jobs to buy anything.

Omar Cruz said...
This comment has been removed by a blog administrator.