Sold Single Family Homes - July 2012
August 8, 2012
For those of you who have an interest in numbers, I post each month the number of closed transactions as they are reported though the CRMLS. I add the numbers for last year (2011) and for the peak of the boom market (2006) just for comparaison. It is always interesting to note that the volume does not change substantially. The one time it did was between 2007 and 2008.
Banning/Beaumont..........2012/111......2011/152......2006/84
Bloomington.....................2012/20........2011/25........2006/20
Colton................................2012/29........2011/49........2006/61
Fontana.............................2012/207......2011/228......2006/221
Grand Terrace...................2012/16........2011/10........2006/7
Highland............................2012/54........2011/55........2006/46
Loma Linda........................2012/13........2011/14.......2006/20
Mentone............................2012/11........2011/11........2006/5
Moreno Valley..................2012/209......2011/249......2006/226
Redlands............................2012/67........2011/56........2006/69
Rialto..................................2012/111.......2011/111......2006/84
Riverside............................2012/402......2011/371.......2006/376
San Bernardino.................2012/154.......2011/197......2006/203
Yucaipa/Calimesa.............2012/61.........2011/49........2006/61
There you have it. A factor that we see influencing the number of transactions going forward is the low inventory of homes for sale. When you are receiving more than one offer on a property, you have other possible transactions that will not be taking place. For example: if ten potential, qualified buyers write offers on the same property, nine of them will not show as having purchased a property. Demand has returned to the market. Now, where is all that "shadow" inventory?
For those of you who have an interest in numbers, I post each month the number of closed transactions as they are reported though the CRMLS. I add the numbers for last year (2011) and for the peak of the boom market (2006) just for comparaison. It is always interesting to note that the volume does not change substantially. The one time it did was between 2007 and 2008.
Banning/Beaumont..........2012/111......2011/152......2006/84
Bloomington.....................2012/20........2011/25........2006/20
Colton................................2012/29........2011/49........2006/61
Fontana.............................2012/207......2011/228......2006/221
Grand Terrace...................2012/16........2011/10........2006/7
Highland............................2012/54........2011/55........2006/46
Loma Linda........................2012/13........2011/14.......2006/20
Mentone............................2012/11........2011/11........2006/5
Moreno Valley..................2012/209......2011/249......2006/226
Redlands............................2012/67........2011/56........2006/69
Rialto..................................2012/111.......2011/111......2006/84
Riverside............................2012/402......2011/371.......2006/376
San Bernardino.................2012/154.......2011/197......2006/203
Yucaipa/Calimesa.............2012/61.........2011/49........2006/61
There you have it. A factor that we see influencing the number of transactions going forward is the low inventory of homes for sale. When you are receiving more than one offer on a property, you have other possible transactions that will not be taking place. For example: if ten potential, qualified buyers write offers on the same property, nine of them will not show as having purchased a property. Demand has returned to the market. Now, where is all that "shadow" inventory?
posted by shirley harry at 9:11 AM
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