Tuesday, January 27, 2009

More on December San Fernando Valley home sales - 2008

Here are the various Back On Market (BOM) measures for San Fernando Valley home sales. Each kind of tells a slightly different story, BOM as a percentage of sales is falling, BOM as a percentage of current pendings is flat and BOM as a percentage of last months pendings is rising. The SRAR chooses to use BOM as a percentage of sales as what they track. They all were around 37% last month. A healthy chunk of aren't able to close.

Total sales (SFH + Condo) were 922 last month. Total pendings for the month came in at 914 and BOM for December was 342. January will definitely be better than last year but clearly not be as good as December '08. That is normal seasonality of January and February being the slowest months of the year. If we use history as a guide, we should start seeing pendings and New listings pick up after the Super Bowl.

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