GSMLS
Single Family Homes, Condo, Coop
(Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties)
5/10 – 16,539
5/17 – 16,846 (1.9% Weekly Increase)
NJMLS
Single Family Homes, Condo, Coop
(Bergen, Essex, Hudson, Passaic Counties)
5/10 – 8,101
5/17 – 8,217 (1.4% Weekly Increase)
MLSGuide
Single Family Homes, Condo, Coop
(Hudson County)
5/10 – 2,351
5/17 – 2,344 (Flat)
Inventory growth slowed a bit from the blistering growth we have seen over the past few weeks. I have not yet looked into the underlying numbers to determine the nature of the change.
grim
Still, 1.4 % to 1.9 % increase is on the run up in inventory.
Is there a way to capture FSBO’s? I have been seeing alot of them up this way. Seems like way more than last year.
I blame the slow growth of inventory on Mother’s day.
All you mother’s should be ashamed! How dare you take another Sunday away from the Open Houses!!
Where does this data come from? I would like to look up the data for South Jersey, where I live.
This data comes from the Garden State MLS, the New Jersey MLS, and MLSGuide systems.
South Jersey is covered by different MLS systems. Some systems make data publically available, others do not.
Here is a blog that covers some South Jersey counties..
http://www.realestaterox.info
Rox is a real estate agent who regularly contributes to this blog.
grim
For the curious in Bergen County, here are the number of residential listings NOT including condos & co-ops from NJMLS
03/03 3,132
03/10 3,230
03/17 3,337
03/23 3,432
03/30 3,543
04/05 3,628
04/12 3,706
04/19 3,781
04/24 3,856
05/08 4,082
05/15 4,174
Today 05/17: 4,230
Use the word, spread the word: Bubble.
To paraphrase Robert Shiller, perception alone can cause the market to turn.
The Housing Bust started summer 2005.
The floor is about to fall out anyday now.
BOYCOTT HOUSES
Booooooyaaaaaaa
Bob
Run for the exits Bubbleheads.
Oh you decided to Wait until next spring selling season in 2007.
You’ll regret it.
Housing price coooollapse going to happen any day now any day now.
Babababababababa BOYCOTT RIPOFF HOUSES.
Boooooooyaaaaaaa
Bob
Housing price floor about to cave in. JUMP! Run Sell…PAPAPAPPAPAPANIC!!!!!!
Boycott Houses!
Booooooyaaaaaaa
Bob
Amazingly, there were quite a few open houses on Mother’s Day – seemed to be a lot more than last year.
Also, I track $350-550K 3+BR/2+FB weekly GSMLS inventory for about 15-20 towns in Essex,Passaic,Union counties, and I’ve noticed siginificant increases for the past 2-3 weeks (like 6-8% per week).
So if total supply is slowing, I’m thinking that there are more price movements.
> Here is a blog that covers some South
> Jersey counties..
> http://www.realestaterox.info
Thanks grim! According to this site there are still bidding wars(!) for houses under $300K. I find this depressing, as I was hoping for a correction here in Burlington County before I buy a house. I don’t feel that the fundamentals here support the doubling of house prices that occurred over the last 5 years.
Here’s a question. If someone is looking to buy (upgrade) in the next 12 months and has an opportunity to sell now, would you recommend sell and rent for a year and try to capitalize on depressed values? Or would you say buy now and avoid the potential of higher interest rates.