Monthly Market Update Video
Dec 6th, 2018
Santa Clara County   

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What is a NORMAL market? 

Listen to my explanation in the video about above and reference the data I talk about below.


National Association of Realtors says 6 months (180 days DOI) is a balanced buyer seller market – meaning there is an even negotiating field for buyers and sellers

So lets talk about Silicon Valley for a bit.  SILICON VALLEY IS NOT LIKE THE NATIONAL MARKET!

FIRST LET’S look at where we have been IN RECENT YEARS:

Santa Clara County

AVERAGE 2014,15,16 – 46 DOI (Days of inventory)

June 2017 – 21,

Dec 2017 – 12 !! LOWEST I'VE RECORDED (records date back to January 2000!)

June 2018 – 32

The data clearly says 2017, early 2018 NOT A TYPICAL/"NORMAL" MARKET

 
HOW IS TODAY DIFFERENT THAN BEFORE THE MARKET CRASH IN 2008?
WHAT ABOUT leading up to

2008 SCC, DOI in:

Jan 2007 was 125,

Jan 2008 411,

Nov 2008 267  

 

COMPARE TO TODAY?

NOV 2018 COUNTY stats: 44 Days INVENTORY – (remember AVG 2014-16 was 46)

SO WE ARE IN A MORE NORMAL MARKET!!!

Plus 50% of homeowners have at least 50% equity, read the report so homeowners are unlikley to walk away from their homes like some did in 2008.

See the Days of Inventory over time sine January 2000.

Chart of Prices, Sales and inventory over time.

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