From bubbletracking - months of inventory tracking by bubble market. Wonder what the first market to hit 1 year of glut will be? I'm betting on good 'ol Phoenix, closing fast, but Sac Town is coming 'round the bend...
Riverside County
9/05: 2.1 months
2/06: 4.4 months
Las Vegas/Clark County
7/05: 3.4 months
2/06: 7.5 months
Phoenix Metro
7/05: 1.1 months
2/06: 6.6 months
Sacramento Metro
2/05: 1.9 months
2/06: 8.4 months
San Diego County
7/05: 3.0 months
2/06: 6.0 months
Orange County
7/05: 1.5 months
2/06: 3.9 months
Los Angeles County
8/05: 1.7 months
2/06: 4.6 months
March 22, 2006
And they're off - pick the first bubble market to hit 1-year worth of supply glut
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9 comments:
Where is Orlando Florida in the list? 25% spec ownership here.
Keith,
LOOK at what has happened downtown Orlando! People catch bird flu from
dryed and aerosolized BIRD DROPINGS!!! Bird Flu is in The Bahamas headed for the eastern sea board!
This pic is where the downtown high priced Condo BOOM is!!!
I can not believe this.
http://www.local6.com/news/8182571
/detail.html
I hear Naples is already at a 28 months supply.
Bubble Meter Blog
Where did you get the supply numbers? I know where to get the inventory but where did you get the months supply numbers?
It will be either west coast of Floriduh or someplace 75 miles from Sacramento where there are no jobs and people commute to the Bay Area. BTW, I get a LOT of recruiter e-mails from the Bay Area now (I'm near Santa Barbara). It seems they can't get people to live there for the normal $85K IT salary anymore...
with appologies to the Floridians, my inventory tracking hasn't made its way across the Mississippi, may be a bit too much for me to handle. But surely someone in Florida should start tracking inventory.
San Diego supply is quickly approaching 20,000...but, no reason to panic. It's spring and things will pick up (insert sarcasm).
I would have thought Phoenix would...but for some strange reason, it's still doing well.
I just checked, and months of inventory are only @ about 5.6 months. That's almost normal.
I doubt it will go over 8.
It would be MUCH more meaningful to see the same period a year ago. RE is highly seasonal. Here's the seasonal curve for my local market. Note this year's inventory levels.
Also, still waiting to hear where you got or how you calculated months of supply as one of the anons asked on 3/22.
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