September 2009 Real-time Housing Report Released

September 9, 2009

by Scott Sambucci

3 comments

Just a quick note to let you know that we released the Real-time Housing Market Update for September 2009 earlier this morning.  Many of our readers are on our monthly distribution list and so you should have already received your copy via email earlier today. If you’re not on our distribution list and would like to be added, you can register by clicking here and filling out the registration form. (It’s free and it’ll take about 10 seconds.)  Once you register, you can also download a copy of this month’s report and we’ll email you a copy directly starting next month.

Here are a few highlights from this month’s report:

The Altos Research 10-City Composite Index was down by 0.6% in August and up just 0.4% during the most recent three-month period.
Prices increased in only 5 of 26 markets and just 4 markets are now showing three months of sequential price increases.
Listed property inventory decreased in 22 of 26 markets and was up in 4 markets.
  • The Altos Research 10-City Composite Index was down by 0.6% in August and up just 0.4% during the most recent three-month period.
  • Prices increased in only 5 of 26 markets and just 4 markets are now showing three months of sequential price increases.
  • Listed property inventory decreased in 22 of 26 markets and was up in 4 markets.

Each monthly report provides an analysis of the metro markets included in the S&P Case-Shiller Home Price Index and the Radar Logic Home Price Index with a look at current housing pricings, housing inventory, and days-on-market.  The data provided in the report is the “tip of the iceberg” when it comes to the real estate market data available from us here at Altos Research, but we think it’s important to provide some insight as to where the real estate market is headed before these lagging market indicators release their monthly values.

Mike Simonsen and I will have additional analysis on the housing market in the new few days.  We’ve got a hunch that the housing market might be headed back down this Fall…

{ 3 comments }

Bob Gibbs September 10, 2009 at 10:19 am

Very interesting data. In my market, the San Ramon Valley in the East Bay Area of California, we have seen inventory levels drop to a point where in some markets there is less than 2 weeks of inventory. The interesting thing is that most of the sales are at either the low price points or high price points and the homes in the middle are still sitting. Low price points here are less than $850K and High are $1.3 Million+

Gainesville Realtors September 13, 2009 at 12:31 pm

Headed back down this fall? Maybe. I’m hoping the $8k credit is extended or even expanded to $15k. I still think we’ll see a boom in volume churn next spring that wows everyone – at least here in Florida.

Jo September 22, 2009 at 12:05 pm

In the upper tiers, I see very low inventories in many areas, and some homes have sat there all year. I don’t see this effecting many fence sitters, because the economy, and affordability are still upper most in many people’s minds. Add to that the total lack of choice in listings, and you still have the perception of a “suckers” rally.

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