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

To: Lizzie Tudor who wrote (173437)	12/27/2008 6:12:19 PM
From: tejek	Respond to of 306849

The group’s unsold inventory index for single-family homes fell to 6.9 months in November from 14.3 months a year earlier. Wow. That's huge. Six months indicates a market that its in equilibrium.....neither a seller's nor buyer's market. The Inland Empire has made huge progress.

To: Lizzie Tudor who wrote (173437)	12/27/2008 9:18:25 PM
From: neolib	Read Replies (2) \| Respond to of 306849

The median number of days it took to sell a California home was 44.3 days last month That number seems odd given the number of months of supply on the market. I assume that it is just what it says, mean number of days for houses THAT ACTUALLY SELL, i.e. houses that have not sold don't impact this number, no matter how long they sit on the market. So...this implies that a large fraction of houses are currently not selling, hence sitting on the market for a long time and inflating the supply number, while not impacting the median length of time to sell a home (at least not yet). I suppose this all makes sense wrt to the high fraction of REO which is selling. Of course this number might be very noisy, month to month.