Summary Of Changes for Sacramento County |
| | Week of 2009-12-19 | Since 2009-12-13 | Since 2008-12-20 |
| Direction | # | % | Direction | # | % |
| Inventory | 6546 |  | 162 | 2.5% |  | -1257 | -16.1% |
| Median Asking Price | $180000 | | -$4900 | -2.70% | | -$19900 | -10% |
| Average Asking Price | $223746 | | -$2817 | -1.2% | | -$35030 | -13.5% |
| Average Asking Price Per SQFT | $132 | | -$1 | -0.80% | | -$18 | -12% |
| SIT Inventory | 3012 | | 67 | 2.299% | | -825 | -21.5% |
| FIT Inventory | 584 | | 21 | 3.699% | | -933 | -61.5% |
| New Listings | 792 | | 189 | 31.30% | | 97 | 14.00% |
| Price Drops | 237 | | -71 | -23.1% | | -363 | -60.5% |
| Price Increases | 32 | | -6 | -15.8% | | 17 | 113.3% |
Four County Inventory Levels
Inventory on 2009-12-19: 10415
Asking Price Levels
Price Inventory Levels
Asking Price Distribution
Troubled Inventory Levels
Flipper Market Share
Sellers In Trouble Market Share
Sellers In Trouble Days Since Last Sale
Asking Price Average Percent Loss
Asking Price Total Dollar Losses
(millions)
Weekly Inventory Price Changes
Weekly Inventory Price Changes
5 comments :
Interesting inventory action the last two weeks. How low will it go?
Max,
There was a huge push with people gobbling FHA qualified homes but something changed in Dec. My guess is that everyone that needed the FTHB credit got it (pushed forward demand).
Now that interest rates are signalling increases (which will push down prices), smart money is hanging back. If Bill Gross is stockpiling cash, who am I to argue?
Plus, the shadow inventory kept off the MLS is seriously piling up and this is the stuff in the choice areas. If the fed closes the overnight rate window like they are signalling, the lenders will not be able to hold those asset off-book as easily. That also means the lenders will need to dump that inventory asap before rates push down the prices on those too.
Has the market finally gotten rational? I seriously hope so. I'm still sticking with my 2011/2012 purchase window for a house in east Sac.
Wow, it does look like something is happening. There were a lot of dips in the graphs for El Dorado County, e.g. asking prices, price inventory levels, asking price distribution and inventory.
Could very well be a last push as DJ identified.
We will see if the Fed actually closes the window. That would be big.
- The shadow inventory situation cannot last
- The Fed can't buy MBS forever
- The banks can't extend and pretend forever
- There are only so many renters
2009 may be remembered as the year of squandered opportunity.
We will see if the Fed actually closes the window. That would be big.
I'm as leery as anyone, but the Fed is making a point to re-iterate their intention to end MBS purchases and disolve the various cash for crap facilities, and I'm sure they mean to. Though when it comes down to it, we all know that the banks will get whatever they want if they feel it's needed.
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