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Inventory down 6.8% M-o-M, 36.5% Y-o-Y for Los Angeles

By Mark D   Follow   Mon, 26 Nov 2012, 3:03pm   389 views   5 comments
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Ventura is down over 60% Y-o-Y.

"As of November 26 2012 there were about 21,569 single family and condo homes listed for sale in Los Angeles California. The median asking price of these homes was approximately $360,000. Since this time last year, the inventory of homes for sale has decreased by 36.5% and the median price has increased by 7.5%."

http://www.deptofnumbers.com/asking-prices/california/los-angeles/

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1. robertoaribas Follow Befriend (23) 55 threads 3,785 comments Scottsdale, AZ robertoaribas's website

   1   5:13pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   wow, the permabears are gonna get creamed going forward! In economics, they aren't called "the general notions of supply and demand..." they are called the LAWS of supply and demand. Supply down = higher equilibrium price.

2. robertoaribas Follow Befriend (23) 55 threads 3,785 comments Scottsdale, AZ robertoaribas's website

   2   5:21pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   War says Housing Demand is at 16 year lows. I love the LAWS of supply and demand. no you don't! you love your proctological statistics, you pull out of your own rear end! ok, genius, if demand is so low, who bought all the homes to make the inventory drop????

3. robertoaribas Follow Befriend (23) 55 threads 3,785 comments Scottsdale, AZ robertoaribas's website

   3   5:26pm Mon 26 Nov 2012   Share   Quote   Permalink   Like   Dislike   War says Apparently nobody considering inventory in Phoenix is rising. Yeah, it is rising from its record low of the last 8 years... and STILL down 15% from last year. Understand that? down from last year...

4. dodgerfanjohn Follow Befriend 19 threads 589 comments Los Angeles, CA

   4   7:44pm Mon 26 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Billybigrig says Is that $360,000 median a 10% down "skin in the game price" Or is it an FHA I've got nothing to lose ," bilk the general public price"... Funny you should ask. I can't say for certain, but in many parts of LA(and in particular the VERY HOT submarkets from Silver Lake to NELA), "investors" are getting sweetheart insider deals and turning around and putting maybe $50K of work into the place(which contractors would quote you $150K to do and if you're an idiot you would pay that without attempting to negotiate) and then re-list 3 months later on the MLS for a tidy $200-300K markup, some of which gets kicked back to the original REA after sale is completed(hence why "investor" got the property at a sweetheart deal). So now you see the difference between the cash only buyer and the bent over and fucked hard with no lube FHA 3.5% down buyer. Oh and thats if theres not another willing FHA sub willing to go through the process and ignorantly overbid cause a $25K overbid is "just" $100 or so a month more.

5. dodgerfanjohn Follow Befriend 19 threads 589 comments Los Angeles, CA

   5   7:45pm Mon 26 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Obligatory "Debt is slavery" post.