Monday, April 02, 2007

Spring Dud?

SacRealStats

14 comments:

Sippn said...

Sorry, gone yesterday purchasing property in Stockton.

Patient Renter said...

Sippn, no doubt you got a good deal.

The spring stats are certainly what we expected so far, but I'll wait till June to celebrate the bounce that never happened.

East Cosat Xplant said...

I have been using the SacBee MLS website to follow listings that are "pending sale" and then fall back onto the market. The Bee's site has been changed and no longer shows pending sale listings. Do any of you knowledgeable folks know of any other public access sites that show listings that are pending sale but not finalized?

Thanks,
Sold in '05

Diggin Deeper said...

Those numbers are ugly! When are prices going to really reflect the slow burn melt down we're seeing in the sales figures? If the resets are in full swing by June, we probably don't see the effects until 3rd/4th Qtr this year. With 3600 foreclosures and 5500 pre-forclosures as of Mar 31, I wonder when the foreclosure hitting the inventory outstrips sales in a given month?

Diggin Deeper said...

February pending home sales index rose 0.7 pct


WASHINGTON (Reuters) - Pending sales of existing U.S. homes rose only narrowly in February as bad weather and weakness in the subprime lending sector put a crimp on the housing market, a real estate agents' trade association said on Tuesday.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in February, rose 0.7 percent to 109.3 from a downwardly revised level of 108.5 in January.

Wall Street analysts polled ahead of the realtor report were expecting the index to come in at 108.2.

A bit of good news from NAR...Is anything over 100 considered expansion? Anything from CAR, NAR, etc. should be considered skewed to fit.

Sippn said...

East Coast - still looking for a source for pendings or I'll have to bother my favorite Realtor.

I like the new format, but Google maps are out of date and flawed.

Sippn said...

Diggn, the national pending index was ugly, but local was better I believe.

Diggin Deeper said...

sippn

Pending sales nationally up .7%. Actual Sacto sales down dramatically as the charts on this thread indicate. What am I missing? Do you have pendings for the area that show an increase?

AgentBubble said...

Pending Sales by County:

El Dorado - 293
Sacramento - 1629
Placer - 543
Yolo - 201

Total - 2666

Perfect Storm said...

What are pending sales versus notice of defaults issued in March.

Sippn said...

I think that is a ton of pendings.

Also I expect a ton of foreclosures/pres/reos.

What a party!

Sippn said...

East Coast - try the link through here on the side bar... should be www.metrolistmls.com direct instead of through the Bee ... gives you a dfferent format and shows both pendings and new listings ... very cool.

Sold in '05 said...

Thanks a bunch sippn! That's what I was looking for. With the new Sacbee site the listings just disappear, and you can't tell if they were dropped or sold. This one is much nicer.

Sold in '05

Diggin Deeper said...

March services growth slowest in four years: ISM

Excerpt:

"Inflation fears were also rekindled with a huge spike in the survey's prices component to 63.3 from 53.8. This seemed counterintuitive given the moderation in activity, and reinforced rumblings about the possibility of a mild form of stagflation -- a weak economy accompanied by rising costs.

http://news.yahoo.com/s/nm/20070404/bs_nm/usa_economy_services_dc_2

Feb factory orders up less-than-expected 1%

Excerpt:

" Nondefense capital goods orders excluding aircraft, considered a proxy for business spending, fell a revised 2.4 percent, doubling the 1.2 percent fall initially reported last week. In January, this category fell 6.2 percent."

pcthttp://news.yahoo.com/s/nm/20070404/bs_nm/usa_economy_factories_dc_1

Looks like the economy is starting to falter. Service sector makes up 80% of US economic activity and without robust growth here, one would have to question whether we really soft land or head into a recession. The "S" word is now starting to show up more and more in the media. Higher food, farm commodities,energy, metals, and raw material costs are fueling higher prices across the board. If true, those that lived the 70's have been here before. Higher prices with lower economic acitivity is a real threat to the housing market. When you couple the mortgage issues to the problem, it could get nasty.

Perfect Storm, your predictions might be true if this plays out like it could.