A pot of coffee, FusionCharts, PHP and mySQL...
January 17, 2007
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I think I am transforming myself into a real estate techno-nerd. Why else would I be up at 4:00 am rummaging through the MLS, updating data tables and a weird obsession to make the Daily Market Charts more sophisticated and meaningful? PHP? Don't ask. mySQL? My next technical conquest. I have become a monster of science fiction movie proportions. I love real estate...I am passionate about using technology to drive more capability and useful data to real estate interested consumers!I finished updating the Daily Market Charts this morning to make them easier to see the relation of the various market indicators. And, I'm not done. More to come over time (when I have time). Now back to development of the ACRE™ Coaching Forum. You can take a peek now but it will be closed to the general public when it goes live.
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R. Good to know my friends are still with me watching and reading the Guide. Needless to say I am totally sidetracked right now. Will recover soon (I hope).
Alby, I thought you were premature before when you mentioned the fishhook in inventory so early in the new year. So far it looks like you were right on the money. If inventory growth keeps up its current trajectory we'll have price declines in '07 far worse than '06. Fairfax inventory hasn't really started to climb significantly and steadily yet but the Loudoun chart is scary. We are starting from a higher nadir in Loudoun inventory than '06 and inventory appears to be building earlier. I'm not sure if a colder second half of January will slow the inventory buildup at all. Confidence in the housing market is much lower now than in early 2006 when most buyers still believed that prices in the DC area would never fall. This may keep nervous would be buyers sidelined watching the inventory and prices closely this Spring.
Merv thanks for keeping us abreast of the market on a daily basis. The new graph styles look good!
Jeff,
Thanks for visiting...I gotta reduce my data collection/presentation overhead. Sooooo...figure out the technology to do it, even if it kills me. :-)
Hi Alby,
There is definitely a fishhook here. Your observations are right on. It appears inventory is on the rise again without a corresponding rise in sales. Result: supply greater than demand. More price pressure.
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made the following comment on January 17, 2007 10:54 PM
Spring is arriving early. We just touched 1800ish units before the Inventory Numbers in Loudoun County have begun to climb. If the county averages 200-250 new listings over the sold rate, then we'll be right back in the same mess as 2006. Ohh well, it won't last forever. All the new people moving into the region have to live somewhere. And if not in Fairfax, Loudoun, P.William, or Fauquier, then they'll be driving a long way from the West Virginia panhandle or Shenandoah Valley region. Supply and Demand dictates all value.
Merv,
You turned me on to FusionCharts for my Chicago market stats. I'm already addicted to coffee, but now php and MySQL ... you're going to kill me.
Jeff
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