Wow, I can't believe it is 2012. It was an ok year last year if you were buying real estate, kinda tough if you were selling, but we are looking at some turn arounds in the market for 2012 so let's enjoy the ride and appreciate what we have been through and what is in store for us. And with that being said along that line here is an article from Altos on prices and inventory.
October home prices are so passe… Inventory & Days-on-market are the real story for 2012
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…but getting less bad because inventory is down and still declining. The foreclosure pipeline is clogged in Florida, while New York and New Jersey still have their robo-signing hangovers:
Year-over-year Ask Prices & Active Market Inventory: Altos 20-City Composite, weekly averages
The constrained supply is also keeping days-on-market in check – sellers are still able to unload their for-sale properties in a tolerable period of time:
Days-on-Market: Altos 20 City Composite, 90-day rolling average
Still don’t inventory or days-on-market matter?
Take the extreme case – what if there were only 100 homes for sale in the entire country? Then prices would be higher regardless of how many houses are in foreclosure or how poorly consumer expectations remained.
