No, there's no news here about IndyMac or Fannie or Freddie. The news is that there are actually quite a few less listings in the east San Fernando Valley than there were at this time last year. According to the local mls's, we're down about 25% from the amount of listings we had at this time last year. (This is not true for Santa Clarita; the amount of listings are way up.) Traditionally, this part of the summer is slow for new listings. It will likely be worse in August and get a little better after Labor Day. But I think that sellers are reluctant to sell now if they don't absolutely have to.
The SocalMLS isn't showing such a decline at all, what MLS are you looking at?
ReplyDeleteAnon, BAOR and SRAR.
ReplyDeleteYou do know both the SRAR and the BAOR post publicly available stats and neither of the stats posted publicly support your assertion?
ReplyDeleteAnon, what in the world are you looking at? Since you're only accessing public sites, I'll only give you the link to the public SRAR site: http://www.srar.com/members/stats/SFVcomps.pdf
ReplyDeleteAs you'll see, at the end of June this year, there were 1549 available listings. At the end of June last year, there were 3163.
Those are new listings not total active listings the total active listings are up according the Burbank Association of Realtors and the SRAR.
ReplyDeleteThe EN and ES sections are the ones you have stated were down 25%:
http://www.srar.com/Stats/SFVStatsJune07.pdf
http://www.srar.com/members/stats/summaries/2008/june/SFV.pdf
Just instinctively watching the market every day I knew you were wrong. But I also asked someone with Tempo access to double check for me. Care to print a retraction like you demanded of the Burbank Leader?
"The news is that there are actually quite a few less listings in the east San Fernando Valley than there were at this time last year. According to the local mls's, we're down about 25% from the amount of listings we had at this time last year. "-SFVRealEstate
"Those are new listings not total active listings the total active listings are up according the Burbank Association of Realtors and the SRAR."
ReplyDeleteAnon (let's call you "Cal" just for fun) here's your retraction. The cumulative effects of number of new listings/total listings are the same. Not only that, but the SRAR stats don't include the Burbank stats. If you truly looked at the Burbank stats like you said you did, you'd see that at the end of June, 2007, there were 427 properties on the market in Burbank. Today, there are 261. That's actually a 39% difference.
Anon, further, let's not waste each other's time. Get a life -- or at least find more important real estate statistical bones to pick.
Or better yet, take the real estate exam, hang your license with a broker, join all the boards and mls's, get yourself some clients and THEN come back and tell me about how the real estate market "feels" to you. In the meantime, I'll feel free to pick and choose further "anon/cal" comments from amateur statistics-loving hobbyists.