real estate cycle: Glen's Numbers June 30th, 2008 - 07/04/08 10:57 AM
There's 2 things that stand out; 1) we're seeing some improvement and 2) the influence that REO's have had in our markets.
I usually speak about the relationship between actives and pendings as being an indication of markets, just as months supply and median price comparisons give us a clue to better understand real estate on a local basis.
Pendings hit an all time low last fall in most areas. Surprisingly they have rebounded since the beginning of the year to their highest levels since I've been tracking them, (July 2005). Why the rebound?
1) Investors looking for bargains, positive … (0 comments)
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real estate cycle: Contra Costa & Alameda County Housing Months Supply by City - 09/13/07 10:15 AM
This is a revision from the July Post as an update for what the months supply is doing on a city by city basis for Contra Costa & Alameda Counties.
What is months supply? Basically, months supply is the ratio of inventory to sales. And what it tells us is how many months the stock of homes for sale would last, if sales continued at their current rate.
See How your City is doing.
We currently have a 8.4 month supply of homes in the entire SF Bay Area. How does this compare historically? "A state of equilibrium" is considered 6 months, a point … (0 comments)
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