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

To: neolib who wrote (173925)	12/27/2008 11:09:33 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

I have the same problems with that article, but what I was thinking is that if the foreclosures are treated as sales, those are on the market for 0 days skewing the numbers? My gut tells me they are working through the inventory in CA, but just not that fast.

To: neolib who wrote (173925)	12/28/2008 1:32:44 PM
From: tejek	Respond to of 306849

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). Yes. Given in the continuing drop in the price median, you have to assume that the more expensive homes are not moving. But there's another issue at play here......I suspect a number of expensive homes have been taken off the market. That typically happens at this stage of the bust. People who don't have to sell don't want to accept a lowered price. They'd rather wait for a better market.