October 2017 Housing Data

Submitted by Rich Toscano on November 19, 2017 - 5:59pm
Inventory is higher than in the spring, but remains very low for this time of year:

There has nonetheless been some seasonal weakness to home prices:

Here are the two together; I wouldn't expect prices to stay negative for long with months of inventory this low (high on the chart):

If you'd like to read more words, I recommend this by the great Bill McBride, aka Calculated Risk: Are house prices a new bubble?

He looks at many of the same things I did for my recent-ish VOSD article on the topic, though on a national level. And -- spoiler alert! -- he comes to the same conclusion as I did (to my relief).

More graphs below:

(category: )

Submitted by gzz on November 20, 2017 - 7:29pm.

Wow, sales are up, inventory down double digits, but only 5% price increase YoY.

It seems like sellers are leaving money on the table by listing too low.

Certainly the condo I purchased last year was priced well under market.

I am not looking to buy a fourth property for lack of down payment funds but seems like there are deals still if you patiently wait, then pounce with a full price or more offer at the right time.

Submitted by ctr70 on December 2, 2017 - 1:53pm.

Rich, I would love to see the San Diego housing inventory chart that you have that goes back to Jan 2007, go back further. Would be really interesting to see a 20-30 year chart on this. I know inventory was pretty low in 2004/2005. I'm wondering if right now we have all time lows.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.