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

[sdrealtor]

FWIW my office is busier than it has been in years and there are relatively few listings coming on the market in my area. I understand we are the exception though.

[nostradamus]

I agree with HereWeGo and am happy to hear what sdrealtor said. I hope many, many buyers run out and do their thang… I’ve only seen crappy homes at reduced prices (at least, not any homes that I would want to buy) so the more buyers snatching up those deals, the less competition when I mosey on into the buyer’s pool.

Remember the wise story about the young bull and the old bull? They are standing on a hill and see some cows. The young bull says “let’s run down there and bang one of those cows”. The old bull says “no, let’s walk down and bang them all”.

If you switch bulls to bears and “a cow” to “a house” and “all” to “a nice house” and “bang” to buy then this perfectly describes our situation. ;D

[nostradamus]

I agree with HereWeGo and am happy to hear what sdrealtor said. I hope many, many buyers run out and do their thang… I’ve only seen crappy homes at reduced prices (at least, not any homes that I would want to buy) so the more buyers snatching up those deals, the less competition when I mosey on into the buyer’s pool.

Remember the wise story about the young bull and the old bull? They are standing on a hill and see some cows. The young bull says “let’s run down there and bang one of those cows”. The old bull says “no, let’s walk down and bang them all”.

If you switch bulls to bears and “a cow” to “a house” and “all” to “a nice house” and “bang” to buy then this perfectly describes our situation. ;D

[nostradamus]

I agree with HereWeGo and am happy to hear what sdrealtor said. I hope many, many buyers run out and do their thang… I’ve only seen crappy homes at reduced prices (at least, not any homes that I would want to buy) so the more buyers snatching up those deals, the less competition when I mosey on into the buyer’s pool.

Remember the wise story about the young bull and the old bull? They are standing on a hill and see some cows. The young bull says “let’s run down there and bang one of those cows”. The old bull says “no, let’s walk down and bang them all”.

If you switch bulls to bears and “a cow” to “a house” and “all” to “a nice house” and “bang” to buy then this perfectly describes our situation. ;D

[nostradamus]

I agree with HereWeGo and am happy to hear what sdrealtor said. I hope many, many buyers run out and do their thang… I’ve only seen crappy homes at reduced prices (at least, not any homes that I would want to buy) so the more buyers snatching up those deals, the less competition when I mosey on into the buyer’s pool.

Remember the wise story about the young bull and the old bull? They are standing on a hill and see some cows. The young bull says “let’s run down there and bang one of those cows”. The old bull says “no, let’s walk down and bang them all”.

If you switch bulls to bears and “a cow” to “a house” and “all” to “a nice house” and “bang” to buy then this perfectly describes our situation. ;D

[nostradamus]

I agree with HereWeGo and am happy to hear what sdrealtor said. I hope many, many buyers run out and do their thang… I’ve only seen crappy homes at reduced prices (at least, not any homes that I would want to buy) so the more buyers snatching up those deals, the less competition when I mosey on into the buyer’s pool.

Remember the wise story about the young bull and the old bull? They are standing on a hill and see some cows. The young bull says “let’s run down there and bang one of those cows”. The old bull says “no, let’s walk down and bang them all”.

If you switch bulls to bears and “a cow” to “a house” and “all” to “a nice house” and “bang” to buy then this perfectly describes our situation. ;D

[cr]

This guy says the same thing every month. Ocrenter explicitly proved him wrong one of the times yet he continues.

Then again even if inventories are down and there isn’t loads of pent up inventory yet to be listed, does that mean we’re a bottom? I think not.

We’ll see how inventory is 3-6 months from now.

[cr]

This guy says the same thing every month. Ocrenter explicitly proved him wrong one of the times yet he continues.

Then again even if inventories are down and there isn’t loads of pent up inventory yet to be listed, does that mean we’re a bottom? I think not.

We’ll see how inventory is 3-6 months from now.

[cr]

This guy says the same thing every month. Ocrenter explicitly proved him wrong one of the times yet he continues.

Then again even if inventories are down and there isn’t loads of pent up inventory yet to be listed, does that mean we’re a bottom? I think not.

We’ll see how inventory is 3-6 months from now.

[cr]

This guy says the same thing every month. Ocrenter explicitly proved him wrong one of the times yet he continues.

Then again even if inventories are down and there isn’t loads of pent up inventory yet to be listed, does that mean we’re a bottom? I think not.

We’ll see how inventory is 3-6 months from now.

[cr]

This guy says the same thing every month. Ocrenter explicitly proved him wrong one of the times yet he continues.

Then again even if inventories are down and there isn’t loads of pent up inventory yet to be listed, does that mean we’re a bottom? I think not.

We’ll see how inventory is 3-6 months from now.

[schizo2buyORnot]

cooperider14,

Do you have a problem with reading simple English . . . . In this post I said exactly nothing of my own opinion. I simply brought facts from the MLS to the table. Exactly how has ocrenter proved anything wrong in terms of what the actual numbers of listed homes for sale on the MLS this year versus last year are???? It may be a challenge for you but re-read the original post in this thread. I only bring the facts. The facts speak for themselves. As Rich’s motto says . . . “In God we trust. Everyone else bring data.” I’m just bringing you the data.

Here ya go coop . . . just in case you missed the first day of Econ 101. There is this little phenomena called Supply and Demand which affects the price of a given commodity, in this case housing. Well the best available hard data on the Supply side of the equation comes from . . . the MLS. Now of course this is only half the equation. Unfortunately there is no hard repository of data indicating exactly how many buyers their are out in the market actively looking to purchase (uh . . . that would be the “Demand”) one of the homes in the “Supply.” All you have is anecdotal evidence in the form of realtors who post here and comment on the current level of traffic and interest. Median Price, Case-Shiller, etc. are all somewhat stale data in that the arms length purchase agreement event of a buyer agreeing to a price with a given seller represented in those numbers is stale by at least 2-3 months. The MLS data is current however. Thus while being only half the equation it is important data.

I know that for most restating the obvious (Econ 101 – Supply/Demand etc) in this way is not necessary. But in your case coop I’ll gladly try to educate you a bit.

In search of a crystal ball . . . .

[schizo2buyORnot]

cooperider14,

Do you have a problem with reading simple English . . . . In this post I said exactly nothing of my own opinion. I simply brought facts from the MLS to the table. Exactly how has ocrenter proved anything wrong in terms of what the actual numbers of listed homes for sale on the MLS this year versus last year are???? It may be a challenge for you but re-read the original post in this thread. I only bring the facts. The facts speak for themselves. As Rich’s motto says . . . “In God we trust. Everyone else bring data.” I’m just bringing you the data.

Here ya go coop . . . just in case you missed the first day of Econ 101. There is this little phenomena called Supply and Demand which affects the price of a given commodity, in this case housing. Well the best available hard data on the Supply side of the equation comes from . . . the MLS. Now of course this is only half the equation. Unfortunately there is no hard repository of data indicating exactly how many buyers their are out in the market actively looking to purchase (uh . . . that would be the “Demand”) one of the homes in the “Supply.” All you have is anecdotal evidence in the form of realtors who post here and comment on the current level of traffic and interest. Median Price, Case-Shiller, etc. are all somewhat stale data in that the arms length purchase agreement event of a buyer agreeing to a price with a given seller represented in those numbers is stale by at least 2-3 months. The MLS data is current however. Thus while being only half the equation it is important data.

I know that for most restating the obvious (Econ 101 – Supply/Demand etc) in this way is not necessary. But in your case coop I’ll gladly try to educate you a bit.

In search of a crystal ball . . . .

[schizo2buyORnot]

cooperider14,

Do you have a problem with reading simple English . . . . In this post I said exactly nothing of my own opinion. I simply brought facts from the MLS to the table. Exactly how has ocrenter proved anything wrong in terms of what the actual numbers of listed homes for sale on the MLS this year versus last year are???? It may be a challenge for you but re-read the original post in this thread. I only bring the facts. The facts speak for themselves. As Rich’s motto says . . . “In God we trust. Everyone else bring data.” I’m just bringing you the data.

Here ya go coop . . . just in case you missed the first day of Econ 101. There is this little phenomena called Supply and Demand which affects the price of a given commodity, in this case housing. Well the best available hard data on the Supply side of the equation comes from . . . the MLS. Now of course this is only half the equation. Unfortunately there is no hard repository of data indicating exactly how many buyers their are out in the market actively looking to purchase (uh . . . that would be the “Demand”) one of the homes in the “Supply.” All you have is anecdotal evidence in the form of realtors who post here and comment on the current level of traffic and interest. Median Price, Case-Shiller, etc. are all somewhat stale data in that the arms length purchase agreement event of a buyer agreeing to a price with a given seller represented in those numbers is stale by at least 2-3 months. The MLS data is current however. Thus while being only half the equation it is important data.

I know that for most restating the obvious (Econ 101 – Supply/Demand etc) in this way is not necessary. But in your case coop I’ll gladly try to educate you a bit.

In search of a crystal ball . . . .

[schizo2buyORnot]

cooperider14,

Do you have a problem with reading simple English . . . . In this post I said exactly nothing of my own opinion. I simply brought facts from the MLS to the table. Exactly how has ocrenter proved anything wrong in terms of what the actual numbers of listed homes for sale on the MLS this year versus last year are???? It may be a challenge for you but re-read the original post in this thread. I only bring the facts. The facts speak for themselves. As Rich’s motto says . . . “In God we trust. Everyone else bring data.” I’m just bringing you the data.

Here ya go coop . . . just in case you missed the first day of Econ 101. There is this little phenomena called Supply and Demand which affects the price of a given commodity, in this case housing. Well the best available hard data on the Supply side of the equation comes from . . . the MLS. Now of course this is only half the equation. Unfortunately there is no hard repository of data indicating exactly how many buyers their are out in the market actively looking to purchase (uh . . . that would be the “Demand”) one of the homes in the “Supply.” All you have is anecdotal evidence in the form of realtors who post here and comment on the current level of traffic and interest. Median Price, Case-Shiller, etc. are all somewhat stale data in that the arms length purchase agreement event of a buyer agreeing to a price with a given seller represented in those numbers is stale by at least 2-3 months. The MLS data is current however. Thus while being only half the equation it is important data.

I know that for most restating the obvious (Econ 101 – Supply/Demand etc) in this way is not necessary. But in your case coop I’ll gladly try to educate you a bit.

In search of a crystal ball . . . .

[Author]

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