Thursday, April 10, 2008

April 2008 Change in Inventory

To re-emphasize yesterday's statement about Sacramento metrics....."Lately when I look at the Sacramento housing market metrics, one word keeps coming to mind…..FUBAR. "

Below is the monthly inventory of SFH from ZipRealty for April and March. The "change in inventory" is from March to April. However, I also colored April if the inventory is less than it was in January. This is very odd behavior for a market that is normally highly seasonal. The list is sorted by Zip code this time.

Unfortunately, I am a bit short on time today, so not going to get into specifics or formulate hypotheses. So I will leave that to you all today.

P.S. Next month I will have a full year of data, so I can do year over year comparisons of inventory. Although at this rate, there may not be a need.


Deflationary Jane said...

Yes but two of my favorite (just can't affrd them) zip have some nice inventory increases 95814 and 95816

Buying Time said...

If I had more time, I was hoping to explore the relationship between high/low price zips and inventory changes.

And perhaps throw in the extent of price drops.....

But day job calls.

Deflationary Jane said...

No worries.
I just always find it interesting that some areas get the "special" treatment then we find out they weren't so special after all, just late to the game. said...

Hi BT,

Does this spreadsheet represent active inventory?...or total inventory (including pending sales)? There was about a 50% spike in pending sales from February to March...and almost as significant of a spike in pending sales from January to February.

I am finding that the appropriately priced under $300k inventory is moving pretty quickly. Looking at the highlighted zip codes (without doing any analysis right now), it appears they might be consistent with areas in this price tier?


Buying Time said...

Yup, active inventory, according to ZipRealty. Of course Sippn will then point out that most of it doesn't count (the Short Sales).

Sippn said...

Well, I'm just saying that as a market type, shorts are not performing.

Your "active" from ZIP Realty does not include "pending" which is the way I would look at it.

Welcome aboard Erin. You have a nice site. Great info from Trendgraphix showing the largest pending number since 2006 - almost 2x any other month. Mostly due to REO sales. Most of the inventory reduction due to REO sales except Fair Oaks which is just hotter than before.

Nice that you publish current data that was never available on Lyon's website EVEN when I was a client... couldn't get a return call from the IT jerk.