Another week, another set of colorful graphs. Four-county inventory remained flat week-over-week:

It is not just the cool weather telling you we have started fall early. This trend was also seen in market activity:

Pending listings remained very low at 5.3% of market. There was nothing going on this week, inventory-wise. On the flipper scene, however, the trends we saw all summer have continued on. As promised last week, I broke out the flipper distributions for Placer and Sacramento:


What we are seeing here is a gradual inversion of the April 15 distribution (green bars). Back then, 95% of flippers expected a profit of some kind, with 70% wanting a profit over 10%. As the market has slowed, almost 20% of flippers have been forced into the loss bin, and those asking for large gains are diminishing.
Curious to me are those flippers still asking for, say, a 50% gain. They can’t not be aware of the slowing market. Either they owe more than 100% of the last sale price, or they are way more optimistic than the majority of their flipper brethren. Whatever the reason, I doubt they’ll be selling anytime soon.
On the price level inventory front, we are definitely seeing declining inventory in the upper price ranges, coupled with rising inventory in the lower ranges. The change is subtle, but it’s there:




Flipper market share trends continued unchanged this week, with a gradual reduction in flipper positions coupled with an increase in the flippers in trouble levels. The only exception was El Dorado county, which saw a slight increase in flipper levels over last week:


