Once again this year, the game was more entertaining than the commercials. Really, was that the lamest batch of Super Bowl commercials in recent history? I'm home from a week in the desert, and happy about it. Indian Wells is a pretty town, but the whole golf vibe is lost on me. And C.A.R. business meetings aren't exactly what I'd call fun. Necessary, yes. Interesting sometimes. Fun? Not so much. Back to some sense of normalcy - let's take a look at this week's stats:
Active Listings: 73
Contingent Listings: 43
Pending Listings: 48 (29.3% of the inventory)
New listings: 11
Months of inventory: 4.0
Click here for an updated price per square foot chart.
Active listings rebounded a little bit this week, owing to a pretty robust number of new listings on the market. Only 4 of the 11 that came on this week were REO's, so I still think that we're seeing a slowdown in those listings. The decline in listings that I've been anticipating is in large part due to what I think will be a slowdown in those listings in coming months. That might be somewhat offset by an increase in short sale listings over the same period. We've been hearing that some lenders are encouraging homeowners who are late with payments to try short sales, so that segment of the market may see a surge in activity.
Later this week I'm going to revisit activity in North Vandenberg Village. Then next week, I'll have a report on a history of interest rates that I think will be enlightening. See you then.
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