Real Estate Trends December 2007
Team Weurding Realty
If you are able to read this article on a regular basis, you will recall that last month I predicted that the housing inventory would continue to shrink until sometime after the first of the year. Actually, that happens to be a no-brainer because it happens every year.
And yet the only “logical” reason that I can think of is there are a lot of sellers out there who don’t really want or need to sell their home. Why else would they remove themselves from the selling process for up to two months, disrupt their agents’ marketing plan, and completely eliminate their chances of selling at a time the competition is resting on the sidelines.
For example, during the month of November there were 958 sales of single family detached homes throughout the county and there were 559 fewer sellers participating in the process. Now granted, the 958 sales were below the normal monthly average of 1354 sales, but nevertheless, it was still a large enough number of sales to be a part of.
A similar scenario was also taking place in Poway , both of the Rancho Bernardo zip codes, and Rancho Penasquitos. The reductions ranged from 4.5% of the inventory in RB 92128 to a 13.2% drop in Poway . With Poway ’s current sagging sales, it certainly was not the time to take a break.
Next month I plan to do the year end summary of both our marketplace and the county as a whole. However, I think it is safe to say unless you live in RB 92127, there is not going to be a lot to cheer about. The most dramatic statistic I found for 2007 was the significant drop in the total number of sales that were recorded. Once again, I urge you to keep in mind we are comparing to 2006 which was a record setting year and a tough act to follow.
TeamWeurding (Bob & Emily) would like to wish you a very Happy, Healthy, and Prosperous Holiday Season and New Year.
Source: Sandicor, MLS, and Dataquick
