Saturday, October 3, 2009

September inventory charts

Inventory is generally up from 2008, except for Palms-Mar Vista after its conforming loan buying frenzy and Santa Monica over $3M which had NO new listings in September.

Considering that inventory levels a year ago (along with the recession, which is not ending in a significant way anytime soon) drove subsequent price reductions of over 20%, I expect another price drop ahead.

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