Update: YOY SD RE Inventory continues to go further negative. Down 3.2%

[schizo2buyORnot]

The latest figures show that the inventory numbers continue to shrink on a YOY basis. As of today the inventory of homes for sale on the MLS in SD is 3.2% lower than at this time last year.

http://www.housingtracker.net/askingprices/California/SanDiego-Carlsbad-SanMarcos/

Update to earlier thread:

http://piggington.com/its_official_folks_sd_re_yoy_inventory_is_now_shrinking

[schizo2buyORnot]

It appears YOY inventory in all of the major “bubble” markets has peaked and is now down on a YOY, not just San Deigo.

RE Inventory levels YOY:

Riverside: -8.0% http://www.housingtracker.net/askingprices/California/Riverside-SanBernardino-Ontario/

Orange County: -4.0% http://www.housingtracker.net/askingprices/California/LosAngeles-LongBeach-SantaAna/SantaAna-Anaheim-Irvine

Sacramento: -13.7% http://www.housingtracker.net/askingprices/California/Sacramento-Arden-Arcade-Roseville/

It appears San Diego’s shrinking inventories are not an anomally. The SD, OC, Sacramento, Riverside RE markets have led the rest of the nation through the various stages of the RE cycle both up and down. This collective group of market leaders now all have declining inventories.

In search of a crystal ball . . . .

[schizo2buyORnot]

It appears YOY inventory in all of the major “bubble” markets has peaked and is now down on a YOY, not just San Deigo.

RE Inventory levels YOY:

Riverside: -8.0% http://www.housingtracker.net/askingprices/California/Riverside-SanBernardino-Ontario/

Orange County: -4.0% http://www.housingtracker.net/askingprices/California/LosAngeles-LongBeach-SantaAna/SantaAna-Anaheim-Irvine

Sacramento: -13.7% http://www.housingtracker.net/askingprices/California/Sacramento-Arden-Arcade-Roseville/

It appears San Diego’s shrinking inventories are not an anomally. The SD, OC, Sacramento, Riverside RE markets have led the rest of the nation through the various stages of the RE cycle both up and down. This collective group of market leaders now all have declining inventories.

In search of a crystal ball . . . .

[schizo2buyORnot]

It appears YOY inventory in all of the major “bubble” markets has peaked and is now down on a YOY, not just San Deigo.

RE Inventory levels YOY:

Riverside: -8.0% http://www.housingtracker.net/askingprices/California/Riverside-SanBernardino-Ontario/

Orange County: -4.0% http://www.housingtracker.net/askingprices/California/LosAngeles-LongBeach-SantaAna/SantaAna-Anaheim-Irvine

Sacramento: -13.7% http://www.housingtracker.net/askingprices/California/Sacramento-Arden-Arcade-Roseville/

It appears San Diego’s shrinking inventories are not an anomally. The SD, OC, Sacramento, Riverside RE markets have led the rest of the nation through the various stages of the RE cycle both up and down. This collective group of market leaders now all have declining inventories.

In search of a crystal ball . . . .

[schizo2buyORnot]

It appears YOY inventory in all of the major “bubble” markets has peaked and is now down on a YOY, not just San Deigo.

RE Inventory levels YOY:

Riverside: -8.0% http://www.housingtracker.net/askingprices/California/Riverside-SanBernardino-Ontario/

Orange County: -4.0% http://www.housingtracker.net/askingprices/California/LosAngeles-LongBeach-SantaAna/SantaAna-Anaheim-Irvine

Sacramento: -13.7% http://www.housingtracker.net/askingprices/California/Sacramento-Arden-Arcade-Roseville/

It appears San Diego’s shrinking inventories are not an anomally. The SD, OC, Sacramento, Riverside RE markets have led the rest of the nation through the various stages of the RE cycle both up and down. This collective group of market leaders now all have declining inventories.

In search of a crystal ball . . . .

[schizo2buyORnot]

It appears YOY inventory in all of the major “bubble” markets has peaked and is now down on a YOY, not just San Deigo.

RE Inventory levels YOY:

Riverside: -8.0% http://www.housingtracker.net/askingprices/California/Riverside-SanBernardino-Ontario/

Orange County: -4.0% http://www.housingtracker.net/askingprices/California/LosAngeles-LongBeach-SantaAna/SantaAna-Anaheim-Irvine

Sacramento: -13.7% http://www.housingtracker.net/askingprices/California/Sacramento-Arden-Arcade-Roseville/

It appears San Diego’s shrinking inventories are not an anomally. The SD, OC, Sacramento, Riverside RE markets have led the rest of the nation through the various stages of the RE cycle both up and down. This collective group of market leaders now all have declining inventories.

In search of a crystal ball . . . .

[HLS]

Aren’t you aware of all the pent up demand from “sellers” who are just waiting to get even ???

What’s the sense of listing today when over 90% of what is listed isn’t selling, and many people think that their neighbor’s house that remains unsold is too cheap anyway, theirs “must be” worth more.

MLS listings don’t tell the whole story in a declining market.

It’s a pain to list a house for sale. It’s easier to stay for free and get foreclosed on someday. Why bother trying to sell when you owe $200K more than it’s worth, unless you have to.

In many areas, every single home bought in 2004,2005,2006 and 2007 the “owner” has paid more than the house is worth today.

I wouldn’t pay much attention to falling inventory numbers.
It may turn out to be a foolish indicator.
The available pool of buyers has probably dropped over 50%,
who cares that MLS inventory has dropped 4% or 8%.

There is still plenty to choose from, unless you only want a certain color house on a certain street.
As far as shelter, there is no shortage of houses.

The comparison of inventory #’s is COMPLETELY different when everybody HAS equity and is holding off selling because they want more. Contraction of inventory in an up market is much different.

Just like there is no shortage of cars that provide transportation either, but if you only want a 1965 pink Cadillac, you may have a tough time finding exactly that, although there are thousands of other choices that provide the same result.

The simple need of shelter or transportation is very easy to meet. It’s only the location of the shelter that creates different issues (or the look of the vehicle)

[HLS]

Aren’t you aware of all the pent up demand from “sellers” who are just waiting to get even ???

What’s the sense of listing today when over 90% of what is listed isn’t selling, and many people think that their neighbor’s house that remains unsold is too cheap anyway, theirs “must be” worth more.

MLS listings don’t tell the whole story in a declining market.

It’s a pain to list a house for sale. It’s easier to stay for free and get foreclosed on someday. Why bother trying to sell when you owe $200K more than it’s worth, unless you have to.

In many areas, every single home bought in 2004,2005,2006 and 2007 the “owner” has paid more than the house is worth today.

I wouldn’t pay much attention to falling inventory numbers.
It may turn out to be a foolish indicator.
The available pool of buyers has probably dropped over 50%,
who cares that MLS inventory has dropped 4% or 8%.

There is still plenty to choose from, unless you only want a certain color house on a certain street.
As far as shelter, there is no shortage of houses.

The comparison of inventory #’s is COMPLETELY different when everybody HAS equity and is holding off selling because they want more. Contraction of inventory in an up market is much different.

Just like there is no shortage of cars that provide transportation either, but if you only want a 1965 pink Cadillac, you may have a tough time finding exactly that, although there are thousands of other choices that provide the same result.

The simple need of shelter or transportation is very easy to meet. It’s only the location of the shelter that creates different issues (or the look of the vehicle)

[HLS]

Aren’t you aware of all the pent up demand from “sellers” who are just waiting to get even ???

What’s the sense of listing today when over 90% of what is listed isn’t selling, and many people think that their neighbor’s house that remains unsold is too cheap anyway, theirs “must be” worth more.

MLS listings don’t tell the whole story in a declining market.

It’s a pain to list a house for sale. It’s easier to stay for free and get foreclosed on someday. Why bother trying to sell when you owe $200K more than it’s worth, unless you have to.

In many areas, every single home bought in 2004,2005,2006 and 2007 the “owner” has paid more than the house is worth today.

I wouldn’t pay much attention to falling inventory numbers.
It may turn out to be a foolish indicator.
The available pool of buyers has probably dropped over 50%,
who cares that MLS inventory has dropped 4% or 8%.

There is still plenty to choose from, unless you only want a certain color house on a certain street.
As far as shelter, there is no shortage of houses.

The comparison of inventory #’s is COMPLETELY different when everybody HAS equity and is holding off selling because they want more. Contraction of inventory in an up market is much different.

Just like there is no shortage of cars that provide transportation either, but if you only want a 1965 pink Cadillac, you may have a tough time finding exactly that, although there are thousands of other choices that provide the same result.

The simple need of shelter or transportation is very easy to meet. It’s only the location of the shelter that creates different issues (or the look of the vehicle)

[HLS]

Aren’t you aware of all the pent up demand from “sellers” who are just waiting to get even ???

What’s the sense of listing today when over 90% of what is listed isn’t selling, and many people think that their neighbor’s house that remains unsold is too cheap anyway, theirs “must be” worth more.

MLS listings don’t tell the whole story in a declining market.

It’s a pain to list a house for sale. It’s easier to stay for free and get foreclosed on someday. Why bother trying to sell when you owe $200K more than it’s worth, unless you have to.

In many areas, every single home bought in 2004,2005,2006 and 2007 the “owner” has paid more than the house is worth today.

I wouldn’t pay much attention to falling inventory numbers.
It may turn out to be a foolish indicator.
The available pool of buyers has probably dropped over 50%,
who cares that MLS inventory has dropped 4% or 8%.

There is still plenty to choose from, unless you only want a certain color house on a certain street.
As far as shelter, there is no shortage of houses.

The comparison of inventory #’s is COMPLETELY different when everybody HAS equity and is holding off selling because they want more. Contraction of inventory in an up market is much different.

Just like there is no shortage of cars that provide transportation either, but if you only want a 1965 pink Cadillac, you may have a tough time finding exactly that, although there are thousands of other choices that provide the same result.

The simple need of shelter or transportation is very easy to meet. It’s only the location of the shelter that creates different issues (or the look of the vehicle)

[HLS]

Aren’t you aware of all the pent up demand from “sellers” who are just waiting to get even ???

What’s the sense of listing today when over 90% of what is listed isn’t selling, and many people think that their neighbor’s house that remains unsold is too cheap anyway, theirs “must be” worth more.

MLS listings don’t tell the whole story in a declining market.

It’s a pain to list a house for sale. It’s easier to stay for free and get foreclosed on someday. Why bother trying to sell when you owe $200K more than it’s worth, unless you have to.

In many areas, every single home bought in 2004,2005,2006 and 2007 the “owner” has paid more than the house is worth today.

I wouldn’t pay much attention to falling inventory numbers.
It may turn out to be a foolish indicator.
The available pool of buyers has probably dropped over 50%,
who cares that MLS inventory has dropped 4% or 8%.

There is still plenty to choose from, unless you only want a certain color house on a certain street.
As far as shelter, there is no shortage of houses.

The comparison of inventory #’s is COMPLETELY different when everybody HAS equity and is holding off selling because they want more. Contraction of inventory in an up market is much different.

Just like there is no shortage of cars that provide transportation either, but if you only want a 1965 pink Cadillac, you may have a tough time finding exactly that, although there are thousands of other choices that provide the same result.

The simple need of shelter or transportation is very easy to meet. It’s only the location of the shelter that creates different issues (or the look of the vehicle)

[Anonymous]

The MLS inventory is suspect, because there is evidence that a majority of the bank-owned homes are not on the MLS. I forgot where I read it, but somebody claimed that out of the 6000 bank-owned homes in the area, only 2000 are listed on the MLS. If that’s true then there is a glut of must-sell homes sitting vacant.

Bank-owned properties and short sales are currently the real-estate market for San Diego. As long as we keep hitting record foreclosure numbers, my guess is that prices will continue to drop and then stagnate once the foreclosures come back to normal levels. A 4-5 year stagnation would be a significant price drop in real terms. If there is some major government bail-out I think that the nominal price drop will be less, but the stagnation period will be longer and we’ll end up with a similar real price drop in the end.

[Anonymous]

The MLS inventory is suspect, because there is evidence that a majority of the bank-owned homes are not on the MLS. I forgot where I read it, but somebody claimed that out of the 6000 bank-owned homes in the area, only 2000 are listed on the MLS. If that’s true then there is a glut of must-sell homes sitting vacant.

Bank-owned properties and short sales are currently the real-estate market for San Diego. As long as we keep hitting record foreclosure numbers, my guess is that prices will continue to drop and then stagnate once the foreclosures come back to normal levels. A 4-5 year stagnation would be a significant price drop in real terms. If there is some major government bail-out I think that the nominal price drop will be less, but the stagnation period will be longer and we’ll end up with a similar real price drop in the end.

[Anonymous]

The MLS inventory is suspect, because there is evidence that a majority of the bank-owned homes are not on the MLS. I forgot where I read it, but somebody claimed that out of the 6000 bank-owned homes in the area, only 2000 are listed on the MLS. If that’s true then there is a glut of must-sell homes sitting vacant.

Bank-owned properties and short sales are currently the real-estate market for San Diego. As long as we keep hitting record foreclosure numbers, my guess is that prices will continue to drop and then stagnate once the foreclosures come back to normal levels. A 4-5 year stagnation would be a significant price drop in real terms. If there is some major government bail-out I think that the nominal price drop will be less, but the stagnation period will be longer and we’ll end up with a similar real price drop in the end.

[Anonymous]

The MLS inventory is suspect, because there is evidence that a majority of the bank-owned homes are not on the MLS. I forgot where I read it, but somebody claimed that out of the 6000 bank-owned homes in the area, only 2000 are listed on the MLS. If that’s true then there is a glut of must-sell homes sitting vacant.

Bank-owned properties and short sales are currently the real-estate market for San Diego. As long as we keep hitting record foreclosure numbers, my guess is that prices will continue to drop and then stagnate once the foreclosures come back to normal levels. A 4-5 year stagnation would be a significant price drop in real terms. If there is some major government bail-out I think that the nominal price drop will be less, but the stagnation period will be longer and we’ll end up with a similar real price drop in the end.

[Author]

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