bostonbubble.com Forum Index bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

SPONSORED LINKS

Advertise on Boston Bubble
Buyer brokers and motivated
sellers, reach potential buyers.
www.bostonbubble.com

YOUR AD HERE

 
Go to: Boston real estate bubble fact list with references
More Boston Bubble News...
DISCLAIMER: The information provided on this website and in the associated forums comes with ABSOLUTELY NO WARRANTY, expressed or implied. You assume all risk for your own use of the information provided as the accuracy of the information is in no way guaranteed. As always, cross check information that you would deem useful against multiple, reliable, independent resources. The opinions expressed belong to the individual authors and not necessarily to other parties.

Boston Bloated with Unsold Homes

 
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond
View previous topic :: View next topic  
Author Message
Red401
Guest





PostPosted: Mon Nov 19, 2007 2:52 pm GMT    Post subject: Boston Bloated with Unsold Homes Reply with quote

http://www.bloomberg.com/apps/news?pid=20601039&sid=as_1Syu9JPcA&refer=home
Back to top
JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Mon Nov 19, 2007 4:22 pm GMT    Post subject: Reply with quote

Is this article to be believed?

This site:

http://www.housingtracker.net/askingprices/Massachusetts/Boston-Cambridge-Quincy/

Seems to show that inventory is down almost 9% vs. last year.

Still stranger, that article cites 42,000 homes for sale in Boston, but the housing tracker site indicates only about 15,000.

Finally, the articles merely cites a figure of 42,000 without comparing it to anything. How are we supposed to know whether this number is up, down, or the same? What constitutes "bloated"?
Back to top
View user's profile Send private message
admin
Site Admin


Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston

PostPosted: Mon Nov 19, 2007 4:35 pm GMT    Post subject: Reply with quote

The article refers to ZipRealty as its data source, so I went there and checked it out. If you use their "Interactive Map" search feature and zoom to the level which roughly captures 495, it currently says there are 40,197 homes for sale in the area:

http://www.ziprealty.com/buy_a_home/search/form/map.jsp

The HousingTracker.net link also has this tidbit at the top (emphasis added):

Quote:

The Boston-Cambridge-Quincy Metropolitan Statistical Area approximation has 20,486 total listings of which 14,709 are either Single Family or Condo homes


My guess is that the article may be 1) looking at a bigger area than HousingTracker.net and 2) counting things which don't qualify as single family homes or condos (e.g., apartment buildings, parking spaces, lots).

Regardless, I agree that the number isn't very useful without some historical context.

- admin
Back to top
View user's profile Send private message Send e-mail Visit poster's website
JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Mon Nov 19, 2007 5:04 pm GMT    Post subject: Reply with quote

That makes a lot more sense. Housingtracker captures a much more limited area. They state:

"The Boston-Cambridge-Quincy Metropolitan Statistical Area approximation has 20,486 total listings of which 14,709 are either Single Family or Condo homes"

So I'd guess their capture areas is smaller. I don't know how far you'd want to go out to capture "Boston," but 495 is probably as reasonable a place as any.

Still, this guy has no evidence to back up his "bloated" claim, at least for Boston. We're not in the same league as Phoenix (up 22% yoy), Vegas (up 26% yoy), or LA (up 20% yoy).
Back to top
View user's profile Send private message
john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Mon Nov 19, 2007 6:13 pm GMT    Post subject: Reply with quote

When you hit the "view the homes" button towards the top, it links you to Realtor.com Do you think the catchment area is related to the listings on realtor.com?

What do you think is the best source to track inventories and sales in the different regions of Massachusetts? oh, one that you don't need a special membership to get...

thanks
Back to top
View user's profile Send private message
admin
Site Admin


Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston

PostPosted: Mon Nov 19, 2007 9:11 pm GMT    Post subject: Reply with quote

john p wrote:
When you hit the "view the homes" button towards the top, it links you to Realtor.com Do you think the catchment area is related to the listings on realtor.com?

That would be my guess. Both Realtor.com and ZipRealty use the MLS, so there should be a good deal of overlap in the two.

john p wrote:

What do you think is the best source to track inventories and sales in the different regions of Massachusetts? oh, one that you don't need a special membership to get...

I don't know of any that I could recommend as "best." That's not to say there isn't a good one, just that I don't know enough to recommend one. It seems that those above are all based on the MLS, which would rule out FSBO's, but is probably as good as it is going to get.

This site tracks inventories by town, but not sales:

http://www.papereconomy.com/Inventory.aspx

- admin
Back to top
View user's profile Send private message Send e-mail Visit poster's website
Display posts from previous:   
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond All times are GMT
Page 1 of 1

 
Jump to:  
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group