A Graphical Picture of last two months Sales 2012 Housing Market
- The spikes in sales in late-2009 and mid-2010 were due to the
home buyer tax credit deadlines. Outside of these spike
periods, the past two months of sales are at the highest levels in 5
years.
- Inventory has been steadily falling. The charts show the
raw number of visible inventory of homes for sale. There are seasonal
patterns, with more listings in spring and summer compared to
winter.
- The ‘shadow’ inventory of distressed mortgages and REOs held by
banks and the federal government has also been falling. It isn’t,
therefore, the case that visible inventory is falling while shadow
inventory rises. Both visible and shadow inventories are
falling.
- The median home price showed a slight increase in February from
one year ago. The increase is more due to the mix of homes issue
where the upper-end market, which had been very sluggish in recent
past, is beginning to move. The market is still dominated by sales
in the lower price points.
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