The weekely Tumble

The median listing prices are showing no signs of slowing. I know it seems like prices are not falling if you are chomping at the bit to buy. But they are still falling. The inventory is continuing to bounce around within about 1000. Ever since Feb it has fluctuated between 13,500 and 14,500. So although we keep hearing about lots of sales they are not making a dent in the inventory levels. I suppose it's not much of a stretch to imagine the inventory really starting to climb as the selling season is starting to wind down.

Another data point that shows the increasing speed of the crash is the one month change numbers. If you look you will see the decline in the last 30 days is 5% and for the last month it's been between 5% and 6.5%. The one month change had been running about 3.5% for most of the year.

As I posted earlier this month the foreclosure rate is still climbing and most of those May and June foreclosures are not on the market yet. So the amount of REO properties hitting the market will increase as the sales rate decreases. That should make for an interesting winter!

Here's the data for the core areas of the IE from housingtracker.net

Riverside, California

Including Arlington, Bloomington, Box Springs, Canyon Crest, Casa Blanca, Colton, Corona, Crestmore, Fontana, Grand Terrace, Jurupa, La Sierra, Mira Loma, Moreno Valley, Norco, Perris, Rubidoux, Woodcrest

Trend	07/07/2008	1 month	3 month	6 month	12 month
Median Price	$266,000	-5.0%	-15.6%	-28.1%	-39.3%
Inventory	13,511	-1.1%	-3.5%	-6.8%	-7.1%

Historical Data

Date	Inventory	25th Percentile	50th Percentile (Median)	75th Percentile
07/07/2008	13,511	$199,000	$266,000	$365,000
07/01/2008	13,897	$199,900	$269,900	$369,900
06/28/2008	13,666	$199,900	$270,000	$370,000
06/21/2008	14,533	$199,900	$274,900	$375,000
06/14/2008	14,827	$200,000	$275,000	$375,900
06/07/2008	13,660	$205,000	$279,900	$379,900
06/01/2008	13,907	$209,900	$285,000	$389,000
05/28/2008	14,053	$210,000	$287,900	$389,000

And here's the county wide numbers,
As you can see the county numbers are dropping a little faster now than the core areas, especially at the high end. The inventory is also holding much more than the core areas.

Trend	07/07/2008	1 month	3 month	6 month	12 month
Median Price	$264,900	-5.1%	-13.1%	-24.1%	-33.8%
Inventory	46,531	-1.6%	-5.5%	-6.0%	-12.6%

Date	Inventory (SFH + Condo)	25th Percentile	50th Percentile (Median)	75th Percentile
07/07/2008	46,531	$189,905	$264,900	$379,900
06/30/2008	45,947	$194,900	$269,900	$387,500
06/23/2008	47,519	$195,225	$270,000	$389,000
06/16/2008	46,962	$199,000	$275,000	$395,000
06/09/2008	47,297	$199,900	$279,000	$399,000
06/02/2008	46,949	$200,000	$280,000	$399,000
05/26/2008	47,187	$200,000	$285,000	$399,000