June 29th, 2009, 12:05 pm · 21 Comments · posted by Jeff Collins
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The California Association of Realtors reported that the time it would take to sell all the houses for sale in Orange County fell last month to the lowest level since October 2005, the month the housing slump began.
According to the association:
- It would take 6.3 months to sell last month's inventory of houses for sale at May's sales pace.
- That's the lowest level since October 2005, considered the start of the housing slump because sales began to falter then.
- That's three months quicker than the year before. The revised May 2008 listings index showed that it would have taken 9.5 months to sell all the houses then for sale.
The numbers are in line with other reports. Aliso Viejo broker Steve Thomas, for example, reported that the county had 9,313 homes listed for sale in the local Multiple Listing Service. That's the lowest number of homes on the market since February 2006. By Thomas' math, the time to sell all the county's listings is now at the lowest level since September 2005.
In other real estate news ...
- 179,000 O.C. homes won't see taxes go up
- Insider Q & A told building turnaround not expected until 2012
- Vegas tycoon buys Emerald Bay home for $28 million
- $10 million discount offered for Balboa home
- Orange County's 10 priciest home sales
- Mall getting $100 million makeover
- Realtors report 10% jump in O.C. house prices
- Could be worse! LA/OC housing ranks 88 of 100
- Builder's losses entering 3rd year
- Fed trims emergency lending
- Mortgage applications rose on dip in rates
- Foreclosures create opportunity for HOA firm
- Agent: Short sales now go ‘a lot faster'
- Can you make $$ as an Irvine landlord?
- Lose your job? These folks can pay your mortgage
Posted in: Inventory • Top tale • California Association of Realtors • numbers |
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