Sacramento Regional Real Estate Trends for February 21, 2009
Inventory remained essentially flat again this week, but there was some price movement to the upside as higher-priced inventory slowly makes a return to the marketplace. The most notable changes are in Yolo County, where a combination of a drop in sub $200K listings and an increase in $500K+ listings has led to a sharp rebound in market price aggregate data.
There will be many extra-market factors effecting market action this year, including various tax incentives, interest rate pegs, and foreclosure moratoriums. Most of these political maneuvers will only delay price discovery if the recession lasts beyond 2009.
10 comments :
Max:
As always thanks for the data. From the last post I gather you are watching for potential bottom signs based on the continued strong sales volume relative to known inventory.
Any chance you might start posting a sales volume or number to compare to the inventory? I know. I know, I asked for the same thing every couple of months. At least I am consistent :)
The problem is I always get this data way late, so you're better off using the DQ numbers from the SacBee. I can cross-post their stuff if you like...
Yolo county - have they effectively exhausted the bulk of the REO supply? Is it temporary?
Jus wondering
Sippn
have they effectively exhausted the bulk of the REO supply?
I'm still showing around 275 BO and about 1000 total distressed in Yolo. Whether they're being offered for sale is another matter.
Max:
It would be nice to have the sales data from the same data set as the inventory even it lagged by 30 days or so. However, if I am the only one who thinks the comparison is useful then it is not worth the effort.
Can you point me to the DQ numbers from the Sacbee you mentioned? Do they have it by county to compare to your inventory?
Thanks
DrDoom-
Try SAR. They track MLS sales, inventory, and MOI for Sacramento County (w/W.Sac) and by zip. They usually publish their numbers before DataQuick.
Max, thanks for the SAR link. Just what I have been looking for.
I think Lander deserves some credit. :)
Max and lander, get a chance to digest that Deutsche report yet? I'm dying to see what you think.
ps blogger is getting pervie. verification word was peo(n)me
opps, yes Lander, thanks...
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