new housing inventory

[gn]

“Is that the way to do business, or are they really rich?”

It’s called denial.

Of course, these homeowners will tell you that “denial” is not a state of mind, it is a river in Egypt 🙂

[gn]

“Is that the way to do business, or are they really rich?”

It’s called denial.

Of course, these homeowners will tell you that “denial” is not a state of mind, it is a river in Egypt 🙂

[DaCounselor]

“I have noticed that there are many properties on sale that are empty. How come homeowners are willing to wait with their empty houses for sale rather than to reduce their price a little bit to sell the properties more quickly. Is that the way to do business, or are they really rich?”
________________________

Whether its good business or not has much to do with the seller’s carrying costs and how long than can cover them. If they can afford it and can ultimately get a number that more than covers their carrying costs, then that’s probably good business. I imagine astute sellers who are tuned into the current market have the finances calculated and will take calculated risks so as not to leave much money on the table. I also imagine sellers who are married to a number that is too high and may have to learn Economics 101 the hard way in a literal crash course.

[DaCounselor]

“I have noticed that there are many properties on sale that are empty. How come homeowners are willing to wait with their empty houses for sale rather than to reduce their price a little bit to sell the properties more quickly. Is that the way to do business, or are they really rich?”
________________________

Whether its good business or not has much to do with the seller’s carrying costs and how long than can cover them. If they can afford it and can ultimately get a number that more than covers their carrying costs, then that’s probably good business. I imagine astute sellers who are tuned into the current market have the finances calculated and will take calculated risks so as not to leave much money on the table. I also imagine sellers who are married to a number that is too high and may have to learn Economics 101 the hard way in a literal crash course.

[p-dude]

p-dude

well so much for 20K inventory by mid summer. According to our beloved Bob Casagrand we already there,

“May 2007: San Diego Housing Market: …. Inventory was 20,904, over 9 months supply. The supply range for inventory varies by size of home with the lowest being 8 months and the high being 12 months. The supply is up 17% from last year and almost 100% from this time in 2005. Year-to-date listings totaled 34,431 which is inline with last years listing number but up 40% from the same period in 2005. Expired, cancelled and withdrawn listings totaled 17,382 up 224% from last years 7,763 and 525% from 2005. These numbers indicate how many times a home is re-listed before it sells or the sellers give up trying to sell.”

I take it back, it should be 25K by mid summer.

[p-dude]

p-dude

well so much for 20K inventory by mid summer. According to our beloved Bob Casagrand we already there,

“May 2007: San Diego Housing Market: …. Inventory was 20,904, over 9 months supply. The supply range for inventory varies by size of home with the lowest being 8 months and the high being 12 months. The supply is up 17% from last year and almost 100% from this time in 2005. Year-to-date listings totaled 34,431 which is inline with last years listing number but up 40% from the same period in 2005. Expired, cancelled and withdrawn listings totaled 17,382 up 224% from last years 7,763 and 525% from 2005. These numbers indicate how many times a home is re-listed before it sells or the sellers give up trying to sell.”

I take it back, it should be 25K by mid summer.

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