April Roundup: Sunny Weather Brings Out the...Sellers, Inventory Up 10%
The big news last month (besides the slaughter of the homebuilders) was the rapid buildup of inventory in the last week or two of April. It appears that when the rains stopped, the sellers decided it was time to sell. By some measures, inventory in the Sacramento housing market is now approaching record levels.
Sacramento Housing Bubble:
3/31/2006: 11,555
4/30/2006: 12,754
+10.4% in April
+26.8% in 2006
Bubble Markets Inventory Tracking:
3/31/2006: 11,833
4/30/2006: 12,989
+9.8% in April
+28.9% in 2006
Housing Tracker:
04/01/2006: 8,103
05/01/2006: 8,914
+ 10.0% in April
+30.0% in 2006
(Note: The three sites use different sources for their numbers. Please see the individual sites for more information on methodology and areas of coverage.)
2 comments:
I know people who are finally getting the message and want to sell now. I tried telling them to do it Q3 2005, but only a lucky few took my advice. It's a difference of 10's of thousands of dollars so far.
With a rush to the exit, who are the suckers buying?
by definition,half of the populace has an IQ under 100.many of these are impaired,chemically or otherwise...the shell game still works after thousands of years.
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