Uh-Oh
Sacramento Area Inventory Growth per BMIT:
Month-over-Month (March v. February)
2005: +6.7%Year-over-Year (2007 v. 2006)
2006: +5.5%
2007: +10.2%
Feb: +15.4%
Mar: +20.6%
Sacramento Area Foreclosures/Pre-Foreclosures per BMIT:
10/31/06: 671/3,059 (21.9%)
11/30/06: 908/2,985 (30.4%)
12/30/06: 1,062/3,167 (33.5%)
01/30/07: 1,322/5,000 (26.4%)
02/27/07: 2,804/5,209 (53.8%)
03/30/07: 3,581/5,467 (65.5%)
2 comments:
Why buy now when you can wait for the fire sale.
Which has already begun. Anyone that wants to buy a home would be foolish to buy today, when the inventory numbers show up this way. I'm beginning to think you're not too far off on your "firesale" price predictions PS.
We'll get some agents or brokers on the blog that try and spin the numbers a different way, but its pretty difficult to put out a forest fire with a garden hose.
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