HousingTracker.net shows OC Median Below $500,000

code7700_IHB

code7700_IHB

New member
I've always found <a href="http://www.housingtracker.net/askingprices/metro/California/LosAngeles-LongBeach-SantaAna/SantaAna-Anaheim-Irvine">http://www.housingtracker.net/askingprices/metro/California/LosAngeles-LongBeach-SantaAna/SantaAna-Anaheim-Irvine</a> pretty interesting. In the past 7-days inventory has gone up 2,252 homes and the median price just dropped to $20,000 to $499,900. Seems like a big change when compared to the past few weeks. Either that or his data is wrong for this week.
 
Thanks for the link. Perhaps the banks are <em>finally</em> getting their REO's on the market ? That's a huge jump in listings !
 
You can see from the Countrywide foreclosure blog also that there has been a spike in REO listings for Countrywide. Is this a new trend or just a blip? Real estate folks might be shooting themselves in the foot with all the talk about a recovery. Every seller on the sidelines might just pile in at the same time.
 
[quote author="ElricSeven" date=1214303003]You can see from the Countrywide foreclosure blog also that there has been a spike in REO listings for Countrywide. Is this a new trend or just a blip? Real estate folks might be shooting themselves in the foot with all the talk about a recovery. Every seller on the sidelines might just pile in at the same time.</blockquote>
Countrywide coming clean before the closing of the merger with BofA???
 
Tomorrow in the morning the S&P;/Case-Shiller Home Price Index will be released for April '08, there is a 2 month lag, at that time you'll see the official decline.



Looking up their old press releases, I think they are out of ideas to select which adjetives to use in their headlines and don't repeat yourself in the process, how many different ways can you say price declines ?



<em>Steep Declines in Home Prices Continued in February 2008 According to the S&P;/Case-Shiller? Home Price Indices 2008-04-29 09:00:00

Record Declines in Home Prices Continued in 2008 According to the S&P;/Case-Shiller? Home Price Indices 2008-03-25 09:00:00

Year End Numbers Mark Widespread Declines According to the S&P;/Case-Shiller? Home Price Indices 2008-02-26 09:00:00

Record Declines in Home Prices Continue in November According to the S&P;/Case-Shiller? Home Price Indices 2008-01-29 09:00:00

Broadbased, Record Declines in Home Prices in October According to the S&P;/Case-Shiller? Home Price Indices 2007-12-26 09:00:00

Further Weakening in Home Prices According to the S&P;/Case-Shiller? Home Price Indices 2007-10-30 09:00:00

Summer Swoon Evident in the S&P;/Case-Shiller? Home Price Indices 2007-09-25 09:00:00

Late Spring Numbers Bring Chilly Returns According to the S&P;/Case-Shiller? Home Price Indices 2007-07-31 09:00:00

Spring Brings No Signs of Warming in Home Prices According to the S&P;/Case-Shiller? Home Price Indices 2007-05-29 09:00:00

Persistent Declining Returns According To The S&P;/Case-Shiller? Home Price Indices 2007-04-24 09:00:00</em>



<a href="http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/2,3,4,0,0,0,0,0,0,1,1,0,0,0,0,0.html">S & P Case-Shiller Home Price Indices </a>
 
I had noticed a couple more WTF listings on the market recently and was wondering if this could be the beginning of a lot of sellers hoping to catch a sucker. Or, it could be a lot of REO inventory from banks. Probably a mix of both.



Don't worry though. The pent-up demand is through the roof and will take care of that inventory in no time...
 
Yeah the numbers seem wacky to me. Thats a huge bump in inventory when the previous trends was a slow reduction. I was wondering if housing tracker changed the way they count.



For comparison, the LA and IE numbers also had big bumps in inventory and slides in prices:



LA

Date Inventory

(SFH + Condo) 25th Percentile 50th Percentile

(Median) 75th Percentile

06/23/2008 45,493 $310,000 $429,990 $659,000

06/16/2008 42,407 $319,000 $439,999 $679,000

06/09/2008 42,398 $320,000 $440,000 $679,000

06/02/2008 42,458 $324,300 $446,500 $679,000

05/26/2008 42,518 $325,000 $449,000 $679,000

05/19/2008 42,532 $325,000 $449,000 $677,900

05/12/2008 42,532 $329,900 $449,900 $675,000

05/05/2008 42,647 $330,000 $450,000 $675,000

04/28/2008 42,728 $335,000 $450,000 $675,000

04/21/2008 42,430 $339,300 $450,000 $675,000



IE

Date Inventory

(SFH + Condo) 25th Percentile 50th Percentile

(Median) 75th Percentile

06/23/2008 47,519 $195,225 $270,000 $389,000

06/16/2008 46,962 $199,000 $275,000 $395,000

06/09/2008 47,297 $199,900 $279,000 $399,000

06/02/2008 46,949 $200,000 $280,000 $399,000

05/26/2008 47,187 $200,000 $285,000 $399,000

05/19/2008 46,779 $208,900 $289,000 $399,900

05/12/2008 47,403 $210,000 $292,500 $402,500

05/05/2008 47,960 $215,000 $299,000 $410,000

04/28/2008 48,253 $219,900 $299,000 $415,000

04/21/2008 47,920 $224,000 $299,900 $419,999
 
I'll send the guy an E-mail and let you know what I hear. It just doesn't seem right. But stranger things have (or will) happen. :)
 
from the market i've been monitoring, there has been a big uptick in REO listings in the past month.



I'm waiting for later in the summer when it surges. Remember, the NODs increased from 20k to 40k for the state in Jan, and have stayed at the 40k level, and the conversion rate from NOD to REO has gone from 15% to 50% to 80% now.



This means 30k REOs/month from now on. and OC's share all things being equal is 3k/month.
 
Looking at this weeks data seems to be more or less unchanged (61 more listings).



I wonder how long until we break the 20,000 listing mark again? Last time appears to be, uh, never. At least not in the weeks since this guy has been tracking data (April 2006).



Format is: Date, Inventory, 25th Percentile, 50th Percentile (Median), and 75th Percentile.



06/30/2008 19,944 $349,000 $499,000 $799,000

06/23/2008 19,883 $349,900 $499,900 $799,000
 
well, NOTs were only 1700 last month for The OC. I wonder if they will rise in June, and if that will juice things a bit.



Or are we in the lag between subprime and alt-a REOs?
 
You must log in or register to reply here.
Back
Top