Publish Date: February 15, 2010 What to Watch For New listings in the MRIS region posted 3,337 units for the week ending February 6, a drop of 16.6 percent from a year ago. Over the last three months, there have been 6.4 percent fewer new listings than there were during the same period a year earlier. Pending sales are a different story. The most recent reporting week saw 2,347 accepted offers, a jump of 21.3 percent from a year ago. Over the last three months, there have been 21.9 percent more pending sales than there were during the same period a year earlier.
Weekly Activity New Listings
......... 2
Pending Sales
......... 3
Active Listings
......... 4
Most Recent Month Days on Market Until Sale
......... 5
Percent of Original List Price Received at Sale
......... 6
Housing Affordability Index
......... 7
Months Supply of Inventory
........ 8
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
1
New Listings As of February 15, 2010 Last Three Months Weekly New Listings 4,500
Current Activity One Year Ago
4,000
3,500
3,000
2,500
2,000
1,500
For the week ending:
Current Activity
One Year Ago
One Year Change
11/14/2009 11/21/2009 11/28/2009 12/5/2009 12/12/2009 12/19/2009 12/26/2009 1/2/2010 1/9/2010 1/16/2010 1/23/2010 1/30/2010 2/6/2010 3-Month Total:
3,245 2,998 1,921 2,946 2,764 2,183 1,280 1,833 3,374 3,608 3,553 3,676 3,337 36,718
3,459 3,281 2,141 3,186 2,748 2,530 1,519 2,322 3,734 3,667 3,309 3,340 4,003 39,239
- 6.2% - 8.6% - 10.3% - 7.5% + 0.6% - 13.7% - 15.7% - 21.1% - 9.6% - 1.6% + 7.4% + 10.1% - 16.6% - 6.4%
1,000 11/14/09
11/21/09
11/28/09
12/5/09
12/12/09
12/19/09
12/26/09
1/2/10
1/9/10
1/16/10
1/23/10
1/30/10
2/6/10
Compared to Last Year: Down (-) Compared to 2003:
Historical New Listings
Down (-)
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0 1/4/03
5/4/03
9/1/03
12/30/03
4/28/04
8/26/04
12/24/04
4/23/05
8/21/05
12/19/05
4/18/06
8/16/06
12/14/06
4/13/07
8/11/07
12/9/07
4/7/08
8/5/08
12/3/08
4/2/09
7/31/09
11/28/09
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
2
Pending Sales As of February 15, 2010 Last Three Months Weekly Pending Sales 2,750
Current Activity One Year Ago
2,250
1,750
1,250
For the week ending:
Current Activity
One Year Ago
One Year Change
11/14/2009 11/21/2009 11/28/2009 12/5/2009 12/12/2009 12/19/2009 12/26/2009 1/2/2010 1/9/2010 1/16/2010 1/23/2010 1/30/2010 2/6/2010 3-Month Total:
1,953 2,013 1,430 1,928 1,806 1,710 1,068 1,216 1,732 2,154 2,415 2,547 2,347 24,319
1,745 1,659 1,237 1,565 1,612 1,519 954 1,112 1,467 1,766 1,610 1,770 1,935 19,951
+ 11.9% + 21.3% + 15.6% + 23.2% + 12.0% + 12.6% + 11.9% + 9.4% + 18.1% + 22.0% + 50.0% + 43.9% + 21.3% + 21.9%
750 11/14/09
11/21/09
11/28/09
12/5/09
12/12/09
12/19/09
12/26/09
1/2/10
1/9/10
1/16/10
1/23/10
1/30/10
2/6/10
Compared to Last Year: Up (+) 5,000
Compared to 2003:
Historical Pending Sales
Down (-)
4,000
3,000
2,000
1,000
0 1/4/03
5/4/03
9/1/03
12/30/03
4/28/04
8/26/04
12/24/04
4/23/05
8/21/05
12/19/05
4/18/06
8/16/06
12/14/06
4/13/07
8/11/07
12/9/07
4/7/08
8/5/08
12/3/08
4/2/09
7/31/09
11/28/09
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
3
Active Listings for Sale As of February 15, 2010 Last Three Months Weekly Inventory for Sale 88,000
Current Inventory 78,000
One Year Ago
68,000
58,000
48,000 11/7/09
11/14/09
11/21/09
11/28/09
12/5/09
12/12/09
12/19/09
12/26/09
1/2/10
1/9/10
1/16/10
1/23/10
1/30/10
2/6/10
Inventory as of:
Current Inventory
One Year Ago
One Year Change
11/7/2009 11/14/2009 11/21/2009 11/28/2009 12/5/2009 12/12/2009 12/19/2009 12/26/2009 1/2/2010 1/9/2010 1/16/2010 1/23/2010 1/30/2010 2/6/2010 3-Month Avg:
60,377 59,855 59,227 57,841 57,091 56,195 55,142 54,634 51,793 51,812 51,667 51,282 50,335 49,918 54,369
78,928 78,199 77,610 75,700 74,879 73,915 73,134 72,660 69,099 69,430 69,312 69,375 68,403 68,745 72,343
- 23.5% - 23.5% - 23.7% - 23.6% - 23.8% - 24.0% - 24.6% - 24.8% - 25.0% - 25.4% - 25.5% - 26.1% - 26.4% - 27.4% - 24.8%
Compared to Last Year: Down (-) Historical Weekly Inventory for Sale
Compared to 2003:
Up (+)
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000 1/11/03
5/11/03
9/8/03
1/6/04
5/5/04
9/2/04
12/31/04
4/30/05
8/28/05
12/26/05
4/25/06
8/23/06
12/21/06
4/20/07
8/18/07
12/16/07
4/14/08
8/12/08
12/10/08
4/9/09
8/7/09
12/5/09
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
4
Days on Market Until Sale January 2010 — 87
124
121
87
+ 2.8%
1-2008
- 30.2%
1-2009
1-2010
Historical Days on Market Until Sale
Month
Current Year
One Year Previous
One Year Change
2-2009
123
126
- 2.3%
3-2009
119
121
- 1.7%
4-2009
110
121
- 9.0%
5-2009
108
112
- 4.1%
6-2009
100
106
- 5.6%
7-2009
95
107
- 11.5%
8-2009
92
109
- 15.2%
9-2009
91
112
- 18.7%
10-2009
90
115
- 21.5%
11-2009
85
111
- 24.0%
12-2009
86
112
- 23.2%
1-2010 12-Month Avg:
87 99
124 115
- 30.2% - 13.9%
Compared to Last Year:
Down (-)
Compared to 2003:
Up (+)
140
120
100
80
60
40
20
0
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
1-2010
5
Percent of Original List Price Received at Sale January 2010 — 93.7% Does not account for list prices from any previous listing contracts or seller concessions.
100%
Month
Current Year
One Year Previous
One Year Change
2-2009
90.0%
91.6%
- 1.8%
3-2009
90.4%
92.0%
- 1.7%
4-2009
91.3%
92.0%
- 0.8%
5-2009
92.2%
92.4%
- 0.3%
6-2009
92.9%
92.7%
+ 0.1%
7-2009
93.4%
92.5%
+ 1.0%
8-2009
93.8%
92.4%
+ 1.5%
9-2009
94.1%
92.4%
+ 1.9%
10-2009
94.1%
91.9%
+ 2.5%
11-2009
94.4%
91.0%
+ 3.7%
82%
12-2009
93.9%
90.9%
+ 3.2%
80%
1-2010 12-Month Avg:
93.7% 92.8%
90.2% 91.8%
+ 3.9% + 1.1%
98% 96%
93.7%
94%
91.2%
92%
90.2%
90% 88% 86%
- 1.1%
84%
1-2008
+ 3.9%
1-2009
1-2010
Compared to Last Year: Up (+) Historical Percent of Original List Price Received at Sale
Compared to 2003:
Down (-)
105%
100%
95%
90%
85%
80%
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
1-2010
6
Housing Affordability Index January 2010 — 151 152
151
98
- 0.2%
+ 54.6%
Month
Current Year
One Year Previous
One Year Change
2-2009
155
119
+ 30.7%
3-2009
146
122
+ 19.8%
4-2009
146
121
+ 21.3%
5-2009
136
116
+ 17.2%
6-2009
131
113
+ 15.9%
7-2009
131
115
+ 13.5%
8-2009
134
121
+ 11.0%
9-2009
141
132
+ 7.0%
10-2009
144
128
+ 12.8%
11-2009
147
143
+ 3.1%
12-2009
144
146
- 1.4%
1-2010 12-Month Avg:
151 142
152 127
- 0.2% + 11.8%
The Housing Affordability Index measures housing affordability for the MRIS service region. The higher the number, the more affordable our housing is.
Historical Housing Affordability Index
An HAI of 120 would mean that the median household income was 120% of the necessary income to qualify for the median priced home under prevailing interest rates.
Compared to Last Year: Even Compared to 2003:
Up (+)
160
150
140
130
120
110
100
90
80
1-2003
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
1-2010
7
Months Supply of Inventory January 2010 — 5.3 Months
8.6
8.2
5.3
- 4.4% 1-2008
- 36.0%
1-2009
1-2010
Month
Current Year
One Year Previous
One Year Change
2-2009
8.1
9.0
- 9.2%
3-2009
8.1
9.5
- 15.1%
4-2009
8.0
10.0
- 19.4%
5-2009
8.0
10.5
- 24.1%
6-2009
7.7
10.7
- 27.6%
7-2009
7.5
10.6
- 29.4%
8-2009
7.3
10.5
- 30.2%
9-2009
7.0
10.0
- 30.1%
10-2009
6.7
9.8
- 31.8%
11-2009
6.4
9.5
- 33.3%
12-2009
6.0
9.0
- 33.9%
1-2010 12-Month Avg:
5.3 7.2
8.2 9.8
- 36.0% - 26.7%
Compared to Last Year: Down (-) Historical Months Supply of Inventory
Compared to 2003:
Up (+)
12
10
8
6
4
2
0
1-2004
1-2005
1-2006
1-2007
1-2008
1-2009
All data provided by MRIS, Inc. Reports are created and maintained by 10K Research and Marketing. Data current as of 2/15/2010. This report may be reproduced by MRIS members.
1-2010
8