Tuesday, March 21, 2006

Reduced Listings, Foreclosures, and Months of Inventory

OCRenter, over at the Bubble Markets Inventory Tracking blog, continues to track the percentage of reduced listings in major markets. So how does the Sacramento housing market fare? Out of the markets measured, the Sacramento real estate market ranks #2, with 32.6% of inventory reduced in price.

A new feature tracks months of inventory. Here's the Sacramento housing market's numbers:

  • February 2005: 1.9 months
  • February 2006: 8.4 months
Quite a dramatic increase over the course of a year. The Sacramento real estate market beats out other markets such as Phoenix, San Diego, and Las Vegas to claim the top spot.

The Sacramento Real Estate Blog has posted a breakdown of months of inventory by price range.

And for readers outside of the Sacramento housing market, OCRenter now has some San Joaquin Valley inventory data for Merced, Kern, Stanislaus, and Fresno Counties.

The Sacramento Housing Bubble blog does a great job tracking daily inventory for the Sacramento housing market. You may not have noticed, but the blog also tracks foreclosures, pre-foreclosure activity, and bankruptcies for Sacramento County. Note the upward trend in foreclosures since August 2005.

1 comment:

Happy Renter said...

Those inventory numbers have'nt been going anywhere. Just hovering at close to record heights.
We saw a slight drop in November/ December. The theory is people pulled their listings wanting to sell in the spring. Get ready for the surge.