Inventory is reportedly down, but I really think that will change. I think there are a lot of people out there just holding their breath and at the first sign of any good news or upturn they will get their house listed. I hear it all the time. We still have a ways to go before we are completely out of the woods here and those additional listings might make it take longer.
Look up at the top of the page. You'll see the words "Advice & Opinions." Colin asked a question, I gave him my opinion BASED on my personal experience. That's what Trulia is all about. I imagine if he wanted stats, he could look them up somewhere, like maybe the tab to the left of "Advice & Opinions" --- The one that says "Stats & Trends."
I understand you want facts and correlating data such as job market information, etc. My answer to this question is not an attempt to make predictions or interpret what the world economy is doing. Rob hit it right on.
I agree with Patrick. I am seeing a lot of bottom feeding. Buyers who sat on their hands last year and saved their pennies are coming off the sidelines, but they are looking for bargains mostly.
This is usually the first sign o f a recovery. The first to brave the market are only willing to buy up what they know is discounted.
The March numbers should be good and crunched in just a few days and we will have a clearer idea of what that month looked like.
The early numbers I am seeing suggest that the market is a lot more ballanced then people think. Not a seller's market, but much less inventory then in the winter.
Once the bargain inventory is gobbled up, we will see more nibbling at the fairly priced inventory. that will be phase two of the recovery, but we aren't there yet.
http://www.dqnews.com/Articles/2009/News/Seattle/RRKIWA090309.aspx ... For example.
I am sure that if you have a comparable source with more current info Colin would appreciate a link.
". I can't speak for everyone, but I can talk about what I'm seeing." That sounds like an opinion and while it may be perfectly true, you present it as a opinion with no support.
My entire family lives in the Seattle area, I have property in the Seattle area, I also have an opinion but would prefer that Colin forms his on something more than that when it comes to determining the FACTS about sales in Seattle.
So opinions...Job Market?....More Foreclosures?..http://www.truliablog.com/2009/03/18/second-wave-of-foreclos ..... What's happening with Credit Cards and what affect will that have?...Whats are the majority of sales? Tax sales? Foreclosures? Short Sales? What's the TRUE Days on Market? If a home is not a Foreclosure or Short sale how long is it on the Market?
Hope it helps, Dunes
Buyers who I haven't heard from in months are once again calling me to look at properties. While things aren't crazy busy, I definately see improvement in the last month or so.