Monday, July 23, 2007

Sacramento Regional Real Estate Trends for July 21, 2007

Inventory top in July? Who would have thunk it? As usual, these week-over-week changes are highly volatile. Therefore, I will not stick my neck out by predicting an inventory top within the next couple of weeks:


However, here for your consideration, is a ghastly grim and ancient graph from night's plutonian shore. It shows daily Metro MLS inventory for Sacramento County from June 2005 to present:


As you can see, inventory can top anywhere between now and October...






7 comments :

realtroll said...

So this empirically shows that inventory has topped out and will not surpass last year's levels and the market is efficiently working off excess inventory. YAY! RE has bottomed!

Burritos for everyone!!!

Bubble Sitter said...

Max, It is interesting that HousingTracker.net and bubbletracking.blogspot.com both have Sacramento at record inventory levels: 18,339 & 17,764 respectively.

It is hard to tell where this market is going (except to say prices are not rising, foreclosures are increasing, and builders are still building).

I think your numbers will hit a record before the next two months are in the books.

AgentBubble said...

Per MLS, inventory for the 4 county area now stands at 18,240.

Sippn said...

Have you noticed talk of inventory plateaus in a few markets... I call it "seller exhaustion"

Patient Renter said...

"I call it 'seller exhaustion'"

How about "holding-back-of-inventory-by-banks exhaustion"

Bubble Sitter said...

Hey Max,

Are you taking a break? Do we need to have Gwynster run your blog?

I see HousingTracker shows inventory up 3.5% this month at 18,454 and asking prices down 2.5% this month at $385,000.

I am interested to see where your stats fit into the equation this week.

Gwenster, can you lean on Max for us over at Lander's site? A gentle prod? A friendly cajoling? A quick bribe with a glass of Pinot?

Max said...

Gwenster, can you lean on Max for us over at Lander's site? A gentle prod? A friendly cajoling? A quick bribe with a glass of Pinot?

I am eminently bribe-able. A Guinness will do just fine. :)

Actually, I'm on the road and was having server access issues until Ms. Max worked them out for me. New graphs will be forthcoming.