California's Unsold Housing Inventory Shrinks To 5 Year Low- COTTONWOOD CA Homes For Sale

By
Real Estate Broker/Owner with Chain Real Estate Investments & Mortgage, Steve & Joel Chain

California's Unsold Housing Inventory Shrinks To 5 Year Low - COTTONWOOD CA Homes For Sale

 

  • Existing, single-family home sales increased 4 percent in December to a seasonally adjusted rate of 558,320 units on an annualized basis. 
  • The statewide median price of an existing single-family home increased 0.8 percent in December to $306,820, compared with November 2009. 
  • C.A.R.’s Unsold Inventory Index fell to 3.8 months in December 09, compared with 5.6 months in December 2008.

Numerous sources have suggested that a so called,"Shadow Inventory" would be "Dumped" on the market creating an increasingly large unsold inventory of homes. As we previously suggested banks would infact "manage" and release these inventories in a measured and orderly fashion. This appears to be happening and is having a stabilizing effect on home prices.

 

                                    CAR Chart housing inventory  january 2010

 

Buyers and Sellers Seeking Transaction Assistance With Cottonwood CA Homes For Sale Contact:

Phone: 530-370-1818                                                                      Email: steve@chainrealestate.net

 

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Posted by

Scott Marquette, REALTOR ®

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Keller Williams Realty - Carmel Valley

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Comments (7)

Rich Cederberg
eXp Realty - Albuquerque, NM
eXp Realty Agent Albuquerque

This is all very good information and very good news as well!

Feb 01, 2010 02:29 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

There's nothing better than limited inventory to stabilize prices.  Hope this trend will continue.

Feb 01, 2010 12:24 PM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Rich,  When I look at home prices for the last 10 years it appears present values are really in line with that long term trend. It just appeared that the trend was interrupted by a huge spike of TOO-GOOD-TO-BE-TRUE appreciation.

Silva, While banks may have been overwhelmed for a bit with the housing crisis they are obviously proving your point.

Steve

Feb 02, 2010 01:36 AM
Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

That certainly explains why there just aren't any "for sale" signs in all these neighborhoods.

Feb 02, 2010 03:52 AM
Rich Cederberg
eXp Realty - Albuquerque, NM
eXp Realty Agent Albuquerque

Cottonwood housing inventory got up to a 16 or 1 month supply? Wow, that's outrageous.

Feb 03, 2010 12:39 AM
Stanton Homes
Stanton Homes - New Home Builder - Raleigh, NC
Design/Build Custom Home Builder in North Carolina

Very interesting look at the market.  Wow, must be tough to get an offer in these days.

Feb 03, 2010 04:22 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Russel,  Some of the markets hit hardest by the housing crisis are experiencing the most effective moderation of inventories. This has created what can only be called a Seller's Market.

Rich, Sorry for any confusion. This is inventory results for California Statewide.

Penny, It seems like long term market history didn't match the present.  It's a good time to change to take advantage of the opportunities.

Steve

Feb 04, 2010 02:17 PM