Manhattan Inventory Increasing Fast?

The drop in prices being a result of the increase in inventory

I am going to punch someone in the neck. How many times has the term "seasonality" come up in this context? Look at inventory versus 1Q2009, not 4Q. And use your brain more often. Perhaps doing the NYT cross word puzzles might provide needed exercise.

Loser.....So historically there is usually an increase in inventory (around 10%) beginning in late december...?

As a broker, I can add that within the past few weeks I've noticed with increasing frequency that when I call or email for an appointment the seller's broker responds, sorry, contract out, multiple bids. This is for both new listings and old, that are properly priced. Buyers are getting the idea that it's time to buy, I think, prices are at the bottom, or close enough to it to not want to miss. Typically the spring has always seen an increase in inventory- sellers want to put their properties on when more people are buying.

"So historically there is usually an increase in inventory (around 10%) beginning in late december...? "

make of this what you will...here is Miller samual on Manhattan inventory by month 2003-2009

http://www.millersamuel.com/charts/gallery-view.php?ViewNode=1260470458qBISN&Record=25

Here is seasonal sales for the past 20 years:

http://www.millersamuel.com/charts/gallery-view.php?ViewNode=1258650855rqcNN&Record=22

JMolishever: you are absolutely a broker if you think prices are at bottom. Please read today's NY Times about the seismic effects of prolonged unemployment and how this country is essentially screwed.

jstreet, to answer your question, NO. Inventory does not normally increase this much in Jan/Feb. Jason, the moron who wants to punch someone in the neck, posted a link to a chart that illustrates that. March and April generally see larger seasonal increases in inventory but it is unusual to see 10% spikes in Jan/Feb. When the spring inventory comes online on top of the current supply I think we will start to see sellers get a little more aggressive.

By the way the exception to this of course was in Q1 2009 when the world was imploding.

http://www.urbandigs.com/charts.html

ouch

How do you "punch someone in the neck"?

same way you punch them in the face, you just aim a little lower...

same way you punch them in the face, you just aim a little lower...

why not just punch them in the face? Isn't the neck a harder target?

That way they can cover it up at work.

I assume jason10006 is sneaking up on the person from behind to avoid getting punched back. Better to go for the back of the neck than the back of the head...