Wednesday, September 13, 2006

Inventories Move Up After Pause

The number of houses for sale on the MLS for Eastern Monmouth us now at 4739.

In the week before and after Labor Day, it looked like inventories would finally stop growing. However, and as pointed out by regular reader Lyndsey, the decline in inventories only reflected end of month de-listings and subsequent re-listings.

I’m pretty sure that inventory increases in late Summer and early Fall are not normal. Now that the mainstream media is trumpeting the housing bubble regularly (about 18 months after the blogs pointed out there was a bubble) I would not be surprised if some house owners decided to list their house sooner than they had planned, given what’s coming.


Anonymous Anonymous said...

Actually a realtor in LBI told me it is very common for lots of houses to come on right after labor day. People wait for the rentals to be done so they can show the house clean and empty - but they want purchasers to have time to get rentals for next season - or the want to have time to line up rentals for next season if it looks like they won't sell.

Thursday, September 14, 2006 4:57:00 PM  
Blogger lindsey said...

A bit late with this, but here are the numbers for the other regions as of 9-15:

W. Mon.: 2726
S. Mon.: 1103
Ocean Cty: 7486

For the record E. Mon. has reached 4749, the highest number I've seen in almost a full year of looking.

Next week (after Sept. 19) I'll be giving yoy numbers for all 4 regions. I would not be surprised to see a decent increase across the board in the next few days. (based on how things have gone in previous months.)

Friday, September 15, 2006 3:05:00 PM  
Blogger lindsey said...

For the record,

Those numbers are up 30, 14, and 123,respectively, from last Friday

Friday, September 15, 2006 3:10:00 PM  

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