Interest Rate Roundup

Wednesday, April 12, 2006

A housing anecdote to share ...

I'm a statistics guy. I follow all the national numbers when it comes to the housing market. But I've also been running my own "anecdotal" research in my area. Every few days since June 2005, I've been running a query on, the listings website. I go in and ask "How many homes with at least 2 bedrooms and 2 baths are for sale in my zip code -- 33458 -- for between $100,000 to $500,000?"

The numbers:
6/15/2005 -- 150
4/12/2006 -- 540
Difference: +260%

Put another way, for-sale inventory in my price range ... in my town ... has almost QUADRUPLED in less than a year. Meanwhile, sales region-wide (I don't have zip-code only sales) were off 22% year-over-year in February (for existing single family homes) and 14% for condos. Does this sound like the makings of a soft landing to you?


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