As the chart clearly indicates, January has seen a surge in listing inventory which has added to the growing months supply of inventory. Sales numbers are due out tomorrow, and our internal Current Market Index suggests that sales for December will be off significantly from December 2005 levels, however prices should be up from November 2006 levels. The media will probably run with the story that prices will be down against December 2005 levels, however that is to be expected as prices already dropped earlier in the year and are actually on their way up, at least on a median price level. Does this mean we’re out of the woods on prices going forward in 2007?
We don’t think so. Stay tuned and we’ll provide our analysis once numbers are actually released, and also in our 2007 State of the Market Report.
|January 23,2007||Active||Total Pending||Months Supply of Inventory|
|December 27,2006||Active||Pending||Months Supply of Inventory|
|December 8,2006||Active||Pending||Months Supply of Inventory|
|November 27,2006||Active||Pending||Months Supply of Inventory|
|November 9,2006||Active||Pending||Months Supply of Inventory|
|October 18,2006||Active||Pending||Months Supply of Inventory|