I Bet Inventory Spikes in Early January
As we have seen the past few weeks, inventory levels at the Shore have been dropping. Myself, and others have attributed this drop mostly to de-listings during the holidays rather than an increase in sales.
Many people believe that inventories are going to start to rise nationwide in the Spring because that is when most people decide to sell their house. Although I also expect this to happen nationwide, I bet that inventories grow quickly in January at the Shore and in the New York area in general. This is because many homeowners and speculators in our area will try to list their houses early, compared with the rest of the country, under the expectation that Wall Street bonus money will be paid out at the end of December or in early January. (Areas of the country not so reliant of Wall Street bonuses can wait till later in the year.) Whether Wall Street bonus money buys real estate is another question, but it will be interesting to see inventory levels in a few weeks.
Maybe this early listing should be encouraged. Tell people who are looking to sell to list the first week of January when Wall Street bonuses are paid and not wait until March when much of the bonus money has already been spent.
Many people believe that inventories are going to start to rise nationwide in the Spring because that is when most people decide to sell their house. Although I also expect this to happen nationwide, I bet that inventories grow quickly in January at the Shore and in the New York area in general. This is because many homeowners and speculators in our area will try to list their houses early, compared with the rest of the country, under the expectation that Wall Street bonus money will be paid out at the end of December or in early January. (Areas of the country not so reliant of Wall Street bonuses can wait till later in the year.) Whether Wall Street bonus money buys real estate is another question, but it will be interesting to see inventory levels in a few weeks.
Maybe this early listing should be encouraged. Tell people who are looking to sell to list the first week of January when Wall Street bonuses are paid and not wait until March when much of the bonus money has already been spent.
posted by Little_Silvered at 6:12 PM
2 Comments:
such negativety.Just sold a house in central jersey before the holiday. Every buyer is hoping for the bottom to drop out, but its not going to prices will continue to climb just not at 15% a year and thats ok.
Take a look around. Prices are being reduced in leaps and bounds.
We’re not going to know how much this trend will continue until spring. Let’s hope it proves to be just a flat market and not a collapse.
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