Thanks to Tim Iacono over at "The Mess That Greenspan Made" for the idea of the stacked chart using the following data.
Note: Updated Monday 04/06/09
Note: Updated Monday 04/06/09
San Fernando Valley:
Ventura County:
Here are the sales breakdown for the San Fernando Valley and Ventura County for March 2009. Distressed sales are still the majority of sales and short sales are slowly gaining strength. I should note that there are late reporters (more in the SFV than VC due to local custom) that will change these numbers by mid-March but the ratios don't change very much. Notice how unlikely it is for a normal seller (blue bar) to get sold in this market, most don't want to compete with short sales or foreclosures and don't have a "special" enough house to make a buyer pay the premium the sellers would want for their home.
4 comments:
The stacked bar chart is very nice. Since you're focusing on the distressed sales, it might be clearer to have them at the baseline.
This chart is awsome.
Organic sales are being eaten alive by distressed sales. This trend will need to reverse significantly before we get price appreciation IMO.
One of my theories and for the next few years we will have a 'permantly high' level of foreclosure/short sales due to high prices and FHA 3% down not going away.
The new way to own a home is to put very little down and if you have to sell you short/walk on it. FHA 3% will make this a reality for some time to come possibly...
Anon,
You are right, I made the change as you suggested.
Very nice and thanks for the credit. I'll let you update the charts from here.
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