Sunday, December 10, 2006

Sacramento Regional Real Estate Trends for December 9, 2006

Inventory continued to drop approaching year-end. The accelerated drop seen last week has moderated, so the projection is still ~13,500 listings by January 1, 2007:

By price, you can see the inventory drop is happening at most levels, which is indicative of listings expiring:

Asking prices are beginning to stabilize as we approach the new year:

Since sales continue to drop, I would expect the asking prices to begin trending downward again in by next quarter. If new house prices are any indicator, the resellers will have no choice.

Speaking of those with no choice, flipper market share surged last week:

But overall flipper listings showed only a modest increase:

So, the relative desire to sell is greater with flippers than with the overall market. That conclusion is also supported by the increase in Flippers In Trouble. They simply cannot afford to lower their prices, and they cannot let their listings expire while they wait for the market to recover.

In other words, flippers are between a rock and a hard place.


Anonymous said...

Do you still have a source or site for weekly sales or pending activities? You used to publish as a part of this. Official MLS releases and sac bee are 30-45 days behind.


AnalysisGuy said...

I released today’s FREE report on Chicago. And it's a fairly normal market - that's strange for us CA natives... It joins prior FREE reports on Boston, Bakersfield, San Francisco, Seattle & Los Angeles.

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