MLS Inventory continued to climb

MLS inventories continue to increase with a total of 1,163 properties now listed with Multi-List Vallarta. The MLV print catalog is getting a little heavy and a little expensive to produce!

Since October of 2006, as shown in the attached graph, inventory totals have risen from just under 500 listing to now nearly 1,163. The most dramatic increase has been most recently, in the past three months. 

In the past I have commented that I thought these increases were just a normal adjustment of a market that has seen five-to-six years of incredible growth, especially with new developments coming online. Now, however, I think the increases we are seeing are because of what is happening to the US and global economies. People are putting their homes up for sale because they need to sell. Must be that reason because this certainly is not the best time to be listing a home on the active market. I think this upward trend will continue into the new year, as 2009 is not being forecasted as a very good year for the global economy.mlv-inventory-totals

Advertisements

4 Responses to MLS Inventory continued to climb

  1. Alex Urrutia says:

    Thanks for tracking this John. I agree, this upward trend is due to the tightening of belts everywhere. I still don’t get a sense that there are any significant amount of ‘fire sales’ happening in the market. We have not had any defaults on any pre-sale commitments, and that is a reassuring sign for our market segment.

    I would be interested to see if you could add sales data with the MLS listing inventory chart. It would be telling to see if increased inventory is in spite of increased sales.

  2. johnlifestyles says:

    It is still difficult to obtain sales information, as not all sales are being reported in MLV. Your office is very good at this, but the majority are not. When I look at how much has sold, and if this is the truth, I wonder how the majority of the offices stay in business! But I will have more statistics coming up in January, for both MLV and MDV.

  3. Clay Lacy says:

    ” more statistics coming up in January, for both MLV and MDV.”

    Looking forward to seeing these and whether there is any sales activity in the past three months.

    Thanks.

    • johnlifestyles says:

      I am currently out of Puerto Vallarta but upon my return I will start entering in this blog some of the information that was presented at the real estate conference last week. John

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: