It's time to take a look at what January 2009 brought to local real estate.
One word: More.
Inventory among SFRs west of Sepulveda stood at 122
at the end of January, now the highest month-end total MBC has reported in almost 2 years of public market tracking. It's up from 105
at the start of the month.
This was coming. All the indicators pointed toward it. (See our recent story, "Where Inventory Grew in '08
," and also "Inventory Higher This Year
," with a chart covering 11 months of 2008.)
Now the question is how much inventory might grow through the Spring.
MBC's got just one full year to point to right now – in 2008, inventory grew from 59
at the first of the year to 105
by the end of April, a steady climb of 81% over 4 months. If we match that pace in 2009, we'll be at 190
SFRs west of Hwy. 1 by the end of April. (Among the lesser impacts will be your blog author's fingertips getting very tired inputting data.)
There is more to be learned from our month-end spreadsheets, which are available now. Click here to download the month-end report (1/31/09)
, and/or here for the 1/15/09 update
. (Both updates can also be accessed any time by using the link on the upper-right corner of the MBC front page.)
We see a modest increase in inventory since the closing date of this last report, though nothing dramatic. More on that and more detail by sections shortly.