Wednesday, September 13, 2006
Homes Staying on the Market - Prices Falling?
Median Days on Market
The media is fond of saying that there is rampant inventory and that homes are staying on the market an extremely long time. A report provided by Fidelity National Title with information supported by the California Association of Realtors shows the median days on market is just 35.4 days. If that number is reason for concern take into consideration that the median days on market in 1991 was over 90 days!
Unsold Inventory
The amount of unsold inventory is currently at 6.3 months. For those of you concerned that it might indicate a massive fallout similar to 1991, have no fear. In 1991 the unsold inventory index was actually 28 months!
Prices are Falling
Prices in fact haven't fallen when compared to numbers from last year. In fact if you visit www.Car.org you can find that prices from July of last year to July of this year prices have increased 6.8%.
You be the judge of the real estate market!
The media is fond of saying that there is rampant inventory and that homes are staying on the market an extremely long time. A report provided by Fidelity National Title with information supported by the California Association of Realtors shows the median days on market is just 35.4 days. If that number is reason for concern take into consideration that the median days on market in 1991 was over 90 days!
Unsold Inventory
The amount of unsold inventory is currently at 6.3 months. For those of you concerned that it might indicate a massive fallout similar to 1991, have no fear. In 1991 the unsold inventory index was actually 28 months!
Prices are Falling
Prices in fact haven't fallen when compared to numbers from last year. In fact if you visit www.Car.org you can find that prices from July of last year to July of this year prices have increased 6.8%.
You be the judge of the real estate market!
