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Real Estate Trends from Realtor.com

March 12, 2013

A huge amount of Real Estate data have come out recently.  Somewhere between watching the San Francisco Forty-Niners in the Superbowl and being mesmerized by the Bay Lights Project, with a brief stop over on Presidents' and Valentine's Days, a lot of charts, tables, numbers and percentages have been reported involving the Real Estate market. We're going to cover a couple of the reports which deal with the health of the housing market during the first 2 months of 2013:

Realtor.com Real Estate Trend Data for January 2013
CoreLogic House Price Index report for January 2013
Trulia Price Monitor Report for both January and February 2013
inventory seems to be pulling up from the nosedive - maybe denzel washington is behind the controls of that plane and we'll all be saved. I didn't actually see the movie so I don't know if there was a nosedive.
Let's look at a few highlights from the Real Estate Trend Data for January 2013 from Realtor.com:

Inventory

National:
In January, the total U.S. for-sale inventory of single-family homes, condos, townhomes and co-ops (SFH/CTHCOPS) dropped to its lowest point since Realtor.com started collecting these data, with1,477,266 units for sale, down 16.47 percent compared with a year ago and less than half its peak of 3.1million units in September 2007. However, the median list price in January ($187,000) was essentially the same as it was a year ago, despite the gains that occurred in the first half of the 2012 home-buying season. The median age of the inventory also decreased 9.24 percent on a year-over-year basis.
Local Markets:
...On a year-over-year basis, for-sale inventory declined in all but three of the 146 markets tracked by Realtor.com while list prices increased in 71 markets, held steady in 24 markets and declined in 51markets. The number of markets experiencing year-over-year list price declines has increased in the past six months, underscoring the growing fragility of many housing market
For-Sale Inventories:
The national for-sale inventory of SFH/CTHCOPS (1,477,266) continued to declinei n January, falling by 5.63 percent during the month and by 16.47 percent on an annual basis. The largeyear-over-year decline in the for-sale inventory is a positive sign that the market has worked throughmuch of its excess inventory
and may be becoming a sellers’ market.
If current conditions hold, sellersare more likely to get their asking price.
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January, the total U.S. for-sale inventory of single-family homes, condos, townhomes and co-ops (SFH/CTHCOPS) dropped to its lowest point since Realtor.com started collecting these data, with 1,477,266 units for sale, down 16.47 percent compared with a year ago and less than half its peak of 3.1 million units in September 2007.
...
On a year-over-year basis, for-sale inventory declined in all but three of the 146 markets tracked by Realtor.com while list prices increased in 71 markets, held steady in 24 markets and declined in 51 markets. The number of markets experiencing year-over-year list price declines has increased in the past six months, underscoring the growing fragility of many housing markets.

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If inventories remain low — and if list prices begin to rise during the next few months, as they did last year — conditions are ripe for additional house price appreciation in 2013. However, such gains are likely to be concentrated in markets already well into their recovery process, such as California, Phoenix, Seattle, Washington, D.C., and many sand states. Markets in the older industrialized parts of the Midwest and the East will likely continue to struggle without a significant turnaround in their local economies. However, if inventories in these areas remain high, it could effectively set the stage for further declines in housing values in these local markets.

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