SFH Sales and Inventory
Below I've posted the monthly sales and inventory levels for single family homes in Massachusetts (compiled from the Mass. Assoc. of Realtors) over the past 6 and 3.5 years, respectively. Sales have been fairly consistent over the 6 year span, with inconsistent but gradual increases. The trend appears to be slowing in 2005, but also slowed in 2002.
What is more intriguing is the striking jump in inventory in 2005. It started in the spring, leading to big gains in inventory throughout the summer, followed by a late summer spike of truly unusual proportions. Then, as suddenly as this spike appeared, it dissipated. Speculative sellers seeing what the market would bear, or hidden inventory waiting to come back on the market this spring? Cleary, the scope of the ballooning inventory will determine the fate of the market over the coming months.
2 comments:
Thanks for the feedback and suggestions. It certainly promises to be an interesting year in the MA market. Realestatecafe, I'm game to join others to discuss the market, but I'm certainly no expert, just an interested observer.
indigo-
I'll try to include a table when I update with the December numbers.
I also like the idea of posting weirdness from the current market, like the examples you cite. Once (if?) we get a critical mass of readers and comments, I'll try to incorporate this idea. I for one have been watching the reductions on a ridiculously overpriced condo in my neighborhood - now down $75K from a starting price of $650K!
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