Six Days, 798 'For Sale' Signs

Published: Thursday, January 8, 2009 3:25 PM PST

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Local real estate broker Jim Klinge pulled the stats for homes listed for sale in the region's home sales database in the first six days of the year. The total: 798.

That's down 40 percent from 1,320 last year. The first six days of 2007 had 1,616 listings, and there were 1,729 in 2006.

Klinge said the 798 number might still grow as agents and brokers catch up on filing their listings on the database. But, from his post:

... it looks like the new-listing inventory will be well under recent years.

The elective sellers are in for a tough year, because you have to either price your home aggressively, or don’t bother. As a result, 2009 is going to be dominated by bank-related inventory - get used to short sales!

We looked last month at a lowered supply -- and a lowered demand -- in the residential real estate market. Klinge's post is a preliminary indication of the demand. We should have numbers sometime next week from MDA DataQuick to see how sales fared in December.

-- KELLY BENNETT

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