Coldwell Banker Premier Realty

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Inventory Update

Inventory levels hit new lows
Posted: July 02, 2012 at 11:45 AM by John McClelland

The supply situation continues to go unresolved. New listings are nearly matched by closings and inventory continues to decline. As a result, buyers and their agents are working extremely hard to match properties. For sellers, this could be a good time to list their home, since competition in many neighborhoods is sparce. Further, we are observing firming prices in many areas, but we do not know how long this will be sustained since we need to move past the peak selling season in order to observe if prices read more

Inventory Continues to Decline, Sale Prices are on the Increase

Recent price pressures have yet to manifest in Case-Shiller Numbers
Posted: May 29, 2012 at 2:15 PM by John McClelland

Today Standard & Poor's released the Case-Shiller home price index numbers. Recall that these tabulations end March 2012, a substantial lag. As I write this, there are just over 4,000 single family homes on the market that you can go buy today. That is just over one month of supply and is not being replenished quick enough. Further, when you slice up the inventory to what you might actually be targeting, homebuying this summer became much more challenging. We have a price per-square-foot index for t read more

Inventory Update

Posted: May 07, 2012 at 1:30 PM by John McClelland

As we continue further into the seasonally strong selling season for residential real estate, many buyers are encountering a limited supply of homes, competition through multiple offers (many cash) and a muted level of new product entering the market. This is not only occuring in Las Vegas but is a condition known in other locals as well.Buyers are reacting to both affordability and investment returns on rental properties so you have two large buyer types directed at the same property types and price ra read more

Case-Shiller Rear View Mirror

Today's release reflects January, not exactly what we are seeing in real time
Posted: March 27, 2012 at 10:23 AM by John McClelland

Today the Case-Shiller numbers were released and in Las Vegas, as most cities, prices registered a decline. However, as one can see from the tiered indices below, those declines have recently been moderating. Since these figures reflect January, these numbers are likely to depart from what is being estabished now. Inventories, which are largely being held back artificially and because of legal and proceedural rigidities, are at extreme lows unseen since the boom days. As a result, multiple offers are the no read more

Shiller on U.S Housing

Price Indices, Mortgage Rates and Other Issues
Posted: December 28, 2011 at 5:42 PM by John McClelland

Robert Shiller, co-creator of the Case-Shiller home price index and one of the few who publically proclaimed that we were in a housing bubble, is asked by Bloomberg to comment on several different datasets. He makes the important distinction between short-term measurements and overall trends, with a particular emphasis on the consumer confidence numbers.Dr. Shiller is asked if he believes it is a good time to purchase a home, at least for someone who expects to be in an area for an extended period. read more