Altos 20-City Composite: Days-on-market (red) is now declining with the lowest active market inventory (green) in the seven years
Altos 20-City Composite: The price of new listings (red) entering the market each week are pricing higher while existing sellers are taking few price reductions (green)
From yesterday on Calculated Risk -”House Prices & Lagged Data” -
But sometimes the lag can be much longer. Tomorrow morning the January Case-Shiller house price index will be released. This is actually a three month average for house sales recorded in November, December and January.
But remember that the purchase agreement for a house that closed in November was probably signed in September or early October. So some portion of the Case-Shiller index will be for contract prices 6 or even 7 months ago! [emphasis added]
Signed,
April
P.S. The weather’s been unseasonably warm this Spring.
P.P.S. Go to Las Vegas right now immediately and take whatever odds you can get on the Giants to win the Super Bowl. Trust me on this.
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That is one good news! But we still have to watch how long it will stay as good as this or even better.
General market of houses being purchased and sold between buyers and sellers either directly by owners or indirectly through brokers. While there is no physical exchange for a housing market, the general term often refers to the performance of the Housing Market Index but not the Housing Market Index itself.
The graph illustrating price of new listings vs. % price reduced is very compelling. Warm spring or not, it 's encouraging to see these items switching directions. I hope the real estate marketing continued to trend this way.
This is great news but the real estate market has a long way to go in Detroit.
its really good information thanks for sharing post like this keep posting
Our little town in Northern California has certainly seen an increase in activity through the first quarter of 2012. Prices have dropped slightly, but homes sold has surged.
We're seeing some of the same stuff in Colorado. It's only slightly better sure, but hey after the past couple of years, I'll take anything!
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