Real-Time National Housing Update ©Copyright Altos Research, LLC December 2010
Altos Research: December 2010:
REAL-TIME HOUSING MARKET UPDATE
Real-Time HousingMarket Update
December 10, 2010
The December housing market begins with a continuation of the seasonal price and inventorydeclines, with asking prices down by 0.45% this month and active inventory down by 3.16%.
In November 2010, the Altos 10-City Price Composite continuedits seasonal decline by 0.45%. Expect weekly declines in price,inventory and demand through the end of the year. Watch thethird week of January before the first inklings of seasonal demanduptick become visible.
November 2010 Highlights
The Altos 10-City Composite is now at $456,454, off 0.45% from last month.
23 of the 26 major markets tracked by Altos showed price decreases, with the steepestdeclines seen in Washington, DC (down 3.41%), San Diego (down 3.07%), and Salt LakeCity (down 2.63%), respectively.
Housing inventory is off seasonally by 3.16% nationwide, with dramatic decreases inseveral major markets, including San Francisco, Boston, and San Jose.
Several markets are starting to show potential stability in home prices, including citiessuch as Miami, which begins its seasonal uptick before the national market.
The Altos Reseach 20-City Composite
Starting this month we’re highlighting a different Altos Research data point each month reportingthe trends over the past few years. For December, here’s a look at the 20
-City composite, whichgives a broader national view than the 10-City Composite we use as the basis for this report.