I added the October statistics to the http://www.slowatch.com/ page. You’ll see that the Months of Inventory for the County dropped a bit (from 14.8 to 14.5 months). While not a big drop, at least it didn’t increase. With Santa Maria and Orcutt thrown in, the number did increase since Santa Maria had a real slow sales month in October.
The inventory of active listings for most cities dropped since the first of last month. While Pending Sales remained low, the number of expired listings took a big jump. Maybe some homeowners are throwing in the towel for trying to sell this year and will wait until the beginning of 2008 before trying again?? It is a pain to have to keep your home in showing condition during the holidays.
Atascadero took a big jump in Months of Inventory as October sales were really slow.
I plan on updating the Just Sold and REO reports later tonite.