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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: paul ross who wrote (6574)11/5/2002 8:40:15 AM
From: Elroy JetsonRead Replies (2) | Respond to of 306849
 
Unless DOM (days on market) has climbed above 90 days for the overall market, you may only be experiencing a temporary (seasonal) increase.

That is definitely not a true statement in Los Angeles. Real estate agents here are most attentive to removing a home from sale after 90 days, only to bring the home back to market after a few days at the same terms.

If you look at the listing histories of properties during our post 1990 market decline, homes for sale during this period show Active and Withdrawn repeatedly, often ten or seventeen times in a row.

Although homes on average required several years to sell, the DOM (days on market) never rose above 90.



To: paul ross who wrote (6574)11/5/2002 10:00:38 AM
From: SouthFloridaGuyRespond to of 306849
 
I agree. I only have last year to compare it with. However, last year at this time, there was still some fallout from September 11th, so the fact that the inventory levels are higher than that is at the very least, interesting...

There seem to be some outlier prices as well...nice homes listed at same or cheaper levels than junkier houses in the same area.


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