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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ild who wrote (11533)7/9/2003 6:42:14 PM
From: Elroy JetsonRead Replies (1) of 306849
 
New Listings in Los Angeles continue to be very scarce. Sales Managers of many real estate brokerage offices are extremely concerned. Sales offices in Beverly Hills which normally broadcast seven or so new listings per day continue to list one or none.

The word seems to be out that this is not a good time to sell. If this continues, there will be a large number of sellers who have been holding off for a better market who at some point will need to sell. The market in 1990 was a similar period of quiet anxiety before the deluge began.

I recall Fred Sands, LA's #1 broker before selling to Coldwell-Banker, described 1990 as a temporary lull in the market before a new surge in prices.
In hindsight he was correct - they surged down 50%.
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