01-21-2013 11:53 PM
Great chart! What 2013 will look like is anyone's guess. The BA version of this would be even more drastic since we are off by a stunning 45% from "normal" (hardly a surprise we are seeing price increases ). A shame we can't see since 2000, I'd love to see how it compares during the years leading to the bubble.
01-22-2013 09:51 AM
So the question is, will it follow a trajectory like last year or will it revert to 2010 pattern...
I don't think either one will happen... I predict it will be somewhere in between... climbing up a little (barely more than now), plateauing (not changing much month-to-month), and then maybe tapering off as it seasonally does...
01-22-2013 05:07 PM
Lowest inventory ever...well at least in my 40 years of memory. Not surprising since we have had 6(unprecedented) years of no building, plus builders now are mostly building apartments, nobody wants to build condos. Prices will skyrocket, unless cities pull out all stops and allow unfettered growth, or the economy tanks...both are unlikely at least for the next 4 years.
01-22-2013 06:16 PM
Yup, it sucks being in the market for a house for my family.
Trying to buy in our town in the SF Bay Area, population 37,000 and there are currently only 13 single family properties on the market between $300,000-$750,000. Of those 13, most are crap and the rest are over priced "lipstick on a pig" flips.
I sure hope Spring brings some more inventory...
01-23-2013 10:31 AM
Well, if the famous school things is true, you will see some properties sold as parents go to a good or different location so their kids get a good education. But, as prices are still, or going up a little bit, chances are people will stay and try to see if the market allows them to get another penny in their pockets.
Drive around the city of San Jose, many development are sprouting everywhere. Like elt1 said, apartments are the new trend as land inventory is becoming less and less.