Inventory creeping up?

[homer_simpson]

lol Is it 2006 all over again?  I think the market is definitely soften this coming year and beyond.

 

[yaliu07]

but new home has WTF asking price with WTF Mello Roos tax

That 5 foot setback though!!

what does this mean?

 

[OpenSky]

 

[OpenSky]

 

[jmoney74]

That's good. Need more owners.

 

[irvinehomeowner]

Read in the paper that December median is highest since 2007.

Bubbly?

 

[eyephone]

It's not bubbly yet.

 

[notTHEoc]

A

 

[quattroporte]

Inventory tanking, Redfin down to 347.

415

 

[usctrojancpa]

Inventory tanking, Redfin down to 347.

415

412 as of 12:15pm to be exact.

 

[OpenSky]

8)

 

[usctrojancpa]

Inventory tanking, Redfin down to 347.

415

412 as of 12:15pm to be exact.

These numbers are meaningless without seasonality.

To repeat: inventory is up 20% or so from last year. Sales are off 30% or so, year over year.

New homes, owner-occupied buyers: the two enemies of the WTF Irvine sellers.

The reality is that we are in a weak seller's market, other parts of OC are in a neutral market.  Last year at this time we were in a strong seller's market so the rise in inventory and rates have cooled things off a bit. 

 

[quattroporte]

Buy house and get a Ferrari for free.
http://www.myfoxphoenix.com/story/2...-slows-sellers-get-creative-to-grab-attention

 

[quattroporte]

Inventory tanking, Redfin down to 347.

415

412 as of 12:15pm to be exact.

433 as of 5:24pm to be exact. Source: Redfin. Disclaimer: Could be off +/- 5 since based on Redfin and not the MLS.

 

[rickr]

519 as of this afternoon.

What was the # last year at this time?

 

[irvinehomeowner]

519 as of this afternoon.

What was the # last year at this time?

Less than 200:
http://www.irvinehousingblog.com/inventory/

 

[jmoney74]

You might see more of the OG home owners from back in the day list their homes this year.  Trying to cash out and cap on that retirement. 

 

[rickr]

540 this morning

I am seeing lot's of open house signs this weekend. Entrance to Woodbury & Woodbury East on Sand Canyon & Towngate, I counted at least 10-15. I know some of you will think otherwise, but it feels like the market is slowing down.

Wasn't this a similar pattern in 2007-2008. Prices continued to rise but volume of sales slowed down. Eventually inventory rose substantially which followed with a drop in prices.

Is $450-$500/sq foot sustainable?

 

[homer_simpson]

540 this morning

I am seeing lot's of open house signs this weekend. Entrance to Woodbury & Woodbury East on Sand Canyon & Towngate, I counted at least 10-15. I know some of you will think otherwise, but it feels like the market is slowing down.

Wasn't this a similar pattern in 2007-2008. Prices continued to rise but volume of sales slowed down. Eventually inventory rose substantially which followed with a drop in prices.

Is $450-$500/sq foot sustainable?

Sale now or be priced in forever!

 

[jmoney74]

Inventory down to 2.  2 homes in all of Irvine!!!