I think the sellers are hoping that the market has turned. Judging by Japan, we may have along time to go-unless jobs come back. Either of our crazy parties are not itnerested in tarriffs or bringing jobs back-just blaming the other party. So we are stuck and our standard of living will probably go down to match the Chinese.
"A total of 7,494 new and resale houses and condos sold in the nine-county Bay Area in December. That was up 18.6 percent from 6,317 in November, and up 4.4 percent from 7,178 in December 2010. The year-over-year increase was the sixth in a row, according to San Diego-based DataQuick."
It's seriously one of the worst times to buy that I can remember since late 2008 (low inventory, high priced properties from bubble buyers trying to bail out too late).
Seriously,those $8000 hand outs from uncle sam screwed them up! In my zipcode(in socal) there are quite a few that are popping up on redfin - bought around 2008/2009 and and are now listed lower then the bought price.
It's 10x in 5 years. You aren't in now, your kids will be living in abandoned cars and boxes.
I'm not sure about there being unfilled boxes to live in. Most of them will be filled with hacked-up realtor parts, and we all know that exposure to realtor blood will likely infect you with their disease.
The numbers above compare the same season this year to the same season exactly 1 year ago.
But that doesn;t mean every year behaves exactly the same. The same is true for anything else that you sell- like cars, TV sets, and so on. Something as simple as the weather can in fact have a huge effect on overall market trends. Ironically, what I had repeated above came from a Realtor I talked to earlier in the week.
Why not? Wouldn't you think a realtor would have it in their best intrest to try and get me to buy? I talked to a realtor earlier this week and her advice was to ( believe it or not) wait because the sell season hasn't really started.
Either way, I am not exactly concerned about supply. I've been looking and there are a LOT of houses for sale, and MANY are well below the 500k threshold we have set for ourselves.
List price graph is meaningless cuz sometimes it is ridiculously high and sometimes it is ridiculously low to attract multiple bids. Actual sold price graph by tier level is the only thing that matters.
•January 20, 2011 - Bay Area Housing Ends Year With Many Looking but Not Buying
•February 17, 2011 - Slow 2011 Start for Bay Area Housing Market
•March 17, 2011 - Bay Area Housing Market Stuck in Neutral; Investors, Cash Buyers Active
•April 14, 2011 - Sales up, Prices Down for Bay Area Housing Market
•May 16, 2011 - Bay Area Home Sales Lose Momentum; Median Price Dips Below 2010 Level - Again
•June 15, 2011 - Bay Area Home Sales, Median Price Inch Up from April; Fall below 2010
•July 14, 2011 - Bay Area June Home Sales Surge, Median Price Edges Up to 2011 High
•August 16, 2011 - Bay Area Housing Market Takes a Breather
•September 16, 2011 - Bay Area Home Sales Rise; Prices Trend Flat to Downward
•October 14, 2011 - Bay Area Home Sales Up, Prices Down from Year Ago
•November 16, 2011 - Bay Area Home Sales Up From 2010, Prices Down
•December 14, 2011 - Bay Area Home Prices Low, Sales Creep Up
You should of course check your county and city...