Spike up in Median price as Inventory plummets.

[Rich Toscano]

That is a good point about the lag, though I think that’s not all of it. The divergence has after all been happening all year. I think the other part of it is that the cheep stuff is what is selling, whereas the more expensive stuff only makes it into the asking price series.

As for inventory, it’s a valid point and has been discussed much on the board (look for stuff written by the resident realtors). There is a lot of speculation that the low inventory could lead to a price rise, which seems like a reasonable possibility. However, it’s tough to think of it as the bottom when there are so many foreclosed properties that haven’t hit the inventory yet. So it’s certainly bullish short term, but the backlog of inventory that hasn’t hit yet prevents me from becoming long-term bullish.

Rich

[sdrealtor]

Pull out all the short sales with offers on them pending lender acceptance and I wouldnt be surprised if inventory was really well under 8,000.

[sdrealtor]

Pull out all the short sales with offers on them pending lender acceptance and I wouldnt be surprised if inventory was really well under 8,000.

[sdrealtor]

Pull out all the short sales with offers on them pending lender acceptance and I wouldnt be surprised if inventory was really well under 8,000.

[sdrealtor]

Pull out all the short sales with offers on them pending lender acceptance and I wouldnt be surprised if inventory was really well under 8,000.

[sdrealtor]

Pull out all the short sales with offers on them pending lender acceptance and I wouldnt be surprised if inventory was really well under 8,000.

[peterb]

I dont see the point of listing prices. It’s not a sale, it’s an arbitrary thing controlled by the selling party. I’ve done all kinds of pricing strategies when I’ve sold a property. All that matters is the closing price. The transaction.
The govt is making money very cheap and restricting inventory. All very out in the open and on purpose. I dont see how this can be construed as a “Bullish” sign for residential RE?

[peterb]

I dont see the point of listing prices. It’s not a sale, it’s an arbitrary thing controlled by the selling party. I’ve done all kinds of pricing strategies when I’ve sold a property. All that matters is the closing price. The transaction.
The govt is making money very cheap and restricting inventory. All very out in the open and on purpose. I dont see how this can be construed as a “Bullish” sign for residential RE?

[peterb]

I dont see the point of listing prices. It’s not a sale, it’s an arbitrary thing controlled by the selling party. I’ve done all kinds of pricing strategies when I’ve sold a property. All that matters is the closing price. The transaction.
The govt is making money very cheap and restricting inventory. All very out in the open and on purpose. I dont see how this can be construed as a “Bullish” sign for residential RE?

[peterb]

I dont see the point of listing prices. It’s not a sale, it’s an arbitrary thing controlled by the selling party. I’ve done all kinds of pricing strategies when I’ve sold a property. All that matters is the closing price. The transaction.
The govt is making money very cheap and restricting inventory. All very out in the open and on purpose. I dont see how this can be construed as a “Bullish” sign for residential RE?

[peterb]

I dont see the point of listing prices. It’s not a sale, it’s an arbitrary thing controlled by the selling party. I’ve done all kinds of pricing strategies when I’ve sold a property. All that matters is the closing price. The transaction.
The govt is making money very cheap and restricting inventory. All very out in the open and on purpose. I dont see how this can be construed as a “Bullish” sign for residential RE?

[outtamojo]

What’s the inventory for single family detached? Don’t all those empty downtown condo’s balloon the general inventory numbers for those not interested in condo and downtown? I keep hearing about shadow inventory but I don’t see any- I guess only the shadow knows. As for being bullish on homes- you agents out there I think will confirm the interest level for single family homes near median market prices has been insane despite the news about unemployment, bank problems, systemic meltdowns etc.

[outtamojo]

What’s the inventory for single family detached? Don’t all those empty downtown condo’s balloon the general inventory numbers for those not interested in condo and downtown? I keep hearing about shadow inventory but I don’t see any- I guess only the shadow knows. As for being bullish on homes- you agents out there I think will confirm the interest level for single family homes near median market prices has been insane despite the news about unemployment, bank problems, systemic meltdowns etc.

[outtamojo]

What’s the inventory for single family detached? Don’t all those empty downtown condo’s balloon the general inventory numbers for those not interested in condo and downtown? I keep hearing about shadow inventory but I don’t see any- I guess only the shadow knows. As for being bullish on homes- you agents out there I think will confirm the interest level for single family homes near median market prices has been insane despite the news about unemployment, bank problems, systemic meltdowns etc.

[outtamojo]

What’s the inventory for single family detached? Don’t all those empty downtown condo’s balloon the general inventory numbers for those not interested in condo and downtown? I keep hearing about shadow inventory but I don’t see any- I guess only the shadow knows. As for being bullish on homes- you agents out there I think will confirm the interest level for single family homes near median market prices has been insane despite the news about unemployment, bank problems, systemic meltdowns etc.

[Author]

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