Wednesday, December 22, 2010
Tuesday, December 7, 2010
Here are the weekly inventory and pending counts for Ventura County and the San Fernando Valley. For the legend Single Family Homes is abbreviated SFH, Ventura County is abbreviated VC and San Fernando Valley is abbreviated SFV. For readers who might not know, REO are bank owned foreclosures and short sales are owners hoping to sell the home for less than what is owed on the mortgage balance.
Friday, December 3, 2010
Here are the sales for Ventura County November 2010. Based on me taking statistics a bit later than usual and adjusting for recent changes in the underlying data sources I think the Dataquick number will be around 575 for November. This is very low sales level and is usually only seen around January/February.
Interest rates recently spiked from sub-4% to mid-4.5% plus.. that will pressure the market further in the coming spring season and could blow up some existing pendings as everyone (myself included!) expected QE2 to lower mortgage rates or at least keep them at 4%.
Stagnation in the market appears to still remain the new normal.
Here is the sales breakdown for the San Fernando Valley for November 2010. The SFV has a lot more late reporters as a percentage of sales and so it is a bit tougher to discern right now just how weak sales will ultimately be for November. But, it appears that sales should be lower in November than October.