Throughout the next week or two, I’ll be posting 2009 year-end housing market trend analysis for several regions across the US, starting with a national look with our Altos 25-City Composite. While we monitor over 125 metro areas and 15,000 zip codes, choosing a few key markets in each region offers some decent perspective on what’s happening regionally.
- Altos 25-City Composite: National market trends (that’s here in this post)
- California: San Francisco, Sacramento, Los Angeles & San Diego
- The Pacific Northwest: Seattle, Portland, Boise & Reno
- The Southwest: Phoenix, Las Vegas, Denver & Salt Lake
- Texas: Dallas, Austin, Houston & San Antonio
- The Midwest: Chicago, St. Louis, Milwaukee & Indianapolis
- The Southeast: Atlanta, Charlotte, Raleigh & Nashville
- Florida: Tampa, Orlando, Miami & Jacksonville
- The Northeast: New York, Boston, Philadelphia & Washington DC
If you’re not subscribed to an RSS Feed of our “How’s the Market?” blog, might be a good time to consider doing so with this rapid flow of year-end analysis. Also, check out our Real-Time Real Estate Market Report – it’s a free report that we send out monthly. It’s “tip of the iceberg” compared to the data and market analytics available via subscription, but offers a nice look at metro-level housing trends. Sign up to receive the report here.
Altos 25-City Composite: A National Look
Inventory in the national resale market continues its steady decline after peaking in early Fall 2008. Median Ask Prices have also steadily declined since the Spring-time bounce earlier in 2009, down about 5% since their 2009 mid-summer highs
Ask price movements of active sellers reveal seller confidence. While new sellers entering the market each week are pricing at consistently lower levels indicating general market weakness, the percentage of sellers with price reductions is also falling, indicating the sellers that have been on the market are feeling more confident of receiving their ask prices from buyers.
I’ll be posting the California Market Analysis shortly, followed by the other regions listed above.