Here's the Picture - No Homes For Sale
January 3, 2013
As I mentioned in yesterday's post, here are the totals of listings, pendings and back-ups for all fourteen communities that I track. I am posting January 1, 2013 and January 1, 2012. With these numbers, it is a rather graphic picture of why buyers have become so frantic.
If you want to revisit the names of the fourteen communities in this tally, you can check yesterday's (01/02/2013) post.
Listings 2013/1556......2012/4476......Pend 2013/2808......2012/2725
Back-up 2013/1125......2012/1264
It is interesting to note that while the active listings are almost two thirds less than they were one year ago.
The pendings and back-ups, however, have changed very little. Looks as though we have the same number of folks actually purchasing homes as we did a year ago.Potential buyers are making offers as soon as a property is listed for sale and many. many of the new listings have multiple buyers competing for the property. Think what the numbers would be if we had a larger selection of available properties for sale.
Just this morning, I read an article in the LA Times that cited a report by CoreLogic that the so-called shadow inventory (Remember that we were to experience a glut of properties for sale in 2012.) had declined in October by 12.3% from the previous year. CoreLogic expects that this "shadow inventory" of homes that have delinquent mortgages, are under threat of foreclosure or already bank-owned will continue to decrease in 2013.
For those of us who make our living selling real estate, we will need to be diligent in assisting homeowners who want to move up or down. We are experiencing a truly active and competitive real estate market that may bring good results for the homeowners who are ready to move on.
As I mentioned in yesterday's post, here are the totals of listings, pendings and back-ups for all fourteen communities that I track. I am posting January 1, 2013 and January 1, 2012. With these numbers, it is a rather graphic picture of why buyers have become so frantic.
If you want to revisit the names of the fourteen communities in this tally, you can check yesterday's (01/02/2013) post.
Listings 2013/1556......2012/4476......Pend 2013/2808......2012/2725
Back-up 2013/1125......2012/1264
It is interesting to note that while the active listings are almost two thirds less than they were one year ago.
The pendings and back-ups, however, have changed very little. Looks as though we have the same number of folks actually purchasing homes as we did a year ago.Potential buyers are making offers as soon as a property is listed for sale and many. many of the new listings have multiple buyers competing for the property. Think what the numbers would be if we had a larger selection of available properties for sale.
Just this morning, I read an article in the LA Times that cited a report by CoreLogic that the so-called shadow inventory (Remember that we were to experience a glut of properties for sale in 2012.) had declined in October by 12.3% from the previous year. CoreLogic expects that this "shadow inventory" of homes that have delinquent mortgages, are under threat of foreclosure or already bank-owned will continue to decrease in 2013.
For those of us who make our living selling real estate, we will need to be diligent in assisting homeowners who want to move up or down. We are experiencing a truly active and competitive real estate market that may bring good results for the homeowners who are ready to move on.
posted by shirley harry at 10:48 AM
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