Tuesday, May 30, 2006

Inventory, Inventory Everywhere

Bubblemeter looks at rising housing inventory from across the country, including Sacramento.

Housing inventory has been steadily increasing across the US. Nationally, the inventory of existing homes for sale has increased by 36.7% year over year from 2,474,000 in April 2005 to 3,383,000 in April 2006 according to data published by the National Association of Realtors...

In Sacramento Metro area, housing inventory started off at 9,513 on January 2nd 2006 and has risen by a full 52% and was 14,478 as of May 20th (Zip Realty, Bubble Markets Inventory Tracking).
Here's a more direct comparison with the national figure. The Sacramento Bee reported that 4,423 homes were on sale for April 2005. By April 2006, there were 11,344. That's an increase of 156%.
  • National: 37%
  • Sacramento Metro: 156%

8 comments:

tom stone said...

i'll bet they are selling a lot more helium ballons this year in sacto!

Happy Renter said...

We 've maintained a 75 house a day increase in inventory rate for quite a while now.
At this rate we will break the all time inventory/population ratio in just 43 days.

Anonymous said...

http://www.foreclosure.com/search.html?st=CA&cno=067&z=95758&tab=a

Get a load of all the preforeclosures at

www.Foreclosure.Com

Anonymous said...

In Elk Grove there are 466 homeowners that are behind on their loans and classified as a

"Preforeclosure"

http://www.foreclosure.com/search.html?ci=Elk%20Grove&st=CA&cno=067&z=&tab=p

hemorrhoidforhousing said...

Can't live on credit cards and future earnings potential forever. Reality comes home every once in awhile to make sure everybody is paying attention.

Happy Renter said...

#Forclosures+Preforclosures

Antelope 141
Sacramento 2641
Elk Grove 479
Folsom 101

Sacramentohousingbubble.com
reports a combined 4500 for Sacramento County.

With the inventory levels what they are and sales slowing a good number of those preforeclosures will end up foreclosures.
What percentage of these preforeclosures do you think are on the market?

tom stone said...

happy renter,a lot of these are on the market,the majority at too high a price due to being upside down,a smart banker with exposure in this market would be staffing up with good collections people,encouraging quick short sales (no need to mention the 1099 for forgiven debt at this point,the borrowers will need something to look forward to!)and cutting their losses as quickly as possible,any way they legally can.(psst,hey mister,wanna buy a trust deed?)

David said...

thanks for the mnetion.

David
Bubble Meter Blog