Congratulations to Nathan, the winner of the Chargers playoff tickets!
He guessed there would be 8,457 active listings of attached and detached homes on the MLS.
https://www.bubbleinfo.com/2009/09/22/tsunami-needed/#comments
Today there are 8,608 active listings!
December, 2008 the average amount of homes for sale was 15,116.
On August 11th there were 11,457 active listings in SD County.
On September 22nd there were 8,149 active listings, and it looked like CA renter would win again if inventory continued to taper off. But it didn’t!
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On September 22nd there were 11,011 pendings, and today there are 10,313 pendings.
Just a pause before the Spring Kick? Or more downdraft ahead?
I don’t have the inventory-per-day stats, but in November, 2008 there were 4,248 new listings inputted onto the MLS, with the list prices averaging $271/sf.
Last month there were only 3,546 new listings, and they averaged $279/sf.
Inventory seems to be picking up, at least on the low end. I track the number of listings on Redfin with the following parameters: city of Riverside, houses only, no short sales, no under contract, less than $175,000. The high was close to when I started keeping track, 337 listings on April 3rd. The low was on Oct. 20th at 64 listings. Today, the number is 99 and it looks like it will keep climbing.
Congats to Nathan on the tickets, I got close but no cigar.
But isn’t comparing 2008 actives with 2009 a little bit of apples vs. oranges with the large # of contingent listings that are out there? I think there is a much more qualitative than quantitative aspect to interpeting this stuff compared to prior years.
Congratulations, Nathan! 🙂
Jim,
Thanks for letting me know. Wow that was just a wild guess to be honest with you!
You can give the tickets to the second place winner or another person who participated in the contest. I will let you make the decision.
I enjoy your blog from the Central Valley down here in Fresno.
Congrats, Nathan! I will gladly take the tickets off your hands. 🙂
^^^ Meaning, take them from Jim and sell them to me, at least you will still have gotten something.
Inventory is dropping. A lot of houses are getting taken off the market but there are also a good number of pendings the last few days.