Highlights from our September 2010 Real-time Housing Report:
- The Altos 10-City Composite is now at $469,910 – below the previous bottom of the market recorded in January 2009 when the Federal Government’s stimulus bill was first put into effect.
- This month, the Altos 10-City Composite price decreased 1.6%. More striking is that prices moved negatively in each of the 26 markets tracked in this report.
- Inventory is increasing, albeit more slowly than in recent months, which is a positive sign in the near term.
Download a copy of this month’s report here. (Yep – it’s free. Registration required.)
The astute will recognize that we warned about prices breaking through the 2009 price trough in our January 2010, March 2010 and August 2010 webcasts based on lower-priced listings hitting the market throughout the latter half of 2009 and this year’s inventory accumulation. The asking price gap tightened due to seasonal effects this Spring, but is again widening post-stimulus: