If you are interested in how many homes are for sale in the Santa Clarita real estate market, you may be curious to see how the 2009 inventory took shape and closed out.
Here is a concise look into the action…
# of active homes for sale by the end of:
January 2009: 1,367
February 2009: 1,284
March 2009: 1,196
April 2009: 1,119
May 2009: 1,001
June 2009: 891
July 2009: 807
August 2009: 752
September 2009: 747
October 2009: 729 (these are just tiny tiny numbers!!)
November 2009: 818
December 2009: 640
What happened with the increase in November, then back to a decrease in December…I don't know. As you can see, it was pretty much a month after month decline in housing inventory, here in Santa Clarita. The Santa Clarita real estate market has a shortage of homes for sale right now. I fully expect the inventory to increase over the next few months into March 2009. If interest rates increase, which it appears they may, the inventory could stand to grow even larger, as some buyers get priced out of the cost of buying a home.
Also, as noted in our previous blog post regarding the supposed Los Angeles County Shadow Inventory of foreclosure homes…if anything resembling a very large Shadow Inventory of homes hits, we could see a very large increase in homes for sale. Some would argue that there is so much pent up demand that any Shadow Inventory would get gobbled up, and all will be well. Those that say that could be right too…it just all depends on exactly how large that Shadow Inventory is, and how proactive and willing the banks are in doing loan modifications for homeowners who are behind in mortgage payments, and or for those who are current, but in risky loans that adjust in interest rate at a given date.
Who has the crystal ball?
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