Relevant:
- 2012 the year of the short sale -- Short sales over 50 percent of all MLS inventory in Southern California. Beware of costs like PMI, HOAs, and Mello-Roos.
- Where did all the real estate inventory go? -- Orange County inventory down 29 percent over the last year and sales are up 25 percent. What is causing the current market dynamic in Orange County?
- Economist Forecasts 20 Percent Further Drop in Housing Prices
- The mid-tier correction in California housing -- Burbank California shadow inventory three times the size of non-distressed MLS inventory.
- Experts "Don't Want to Be Alarmist" About "Breather" in LA's "Nuanced" Housing Market; Which "May Peak in A Year"
2013-11-24 — doctorhousingbubble.com
``[The drop since early 2012] was over a 50 percent drop in total inventory over a short period time. So it is no coincidence that home prices over this short period also increased dramatically in conjunction with low interest rates brought on by the Federal Reserve. However, housing inventory hit a temporary bottom in February of this year... The housing market seems to be at a lull trying to decide where it will go. Home prices in California are up 25 percent over the year and clearly this is an unsustainable pace. The California housing market is addicted to a boom and bust cycle. We are in a boom of sorts so to think we'll have a steady market following the latest boom simply goes against recent history of the market.''
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