Helpful Indicator For Real Estate Recovery

There appears to be an indicator based on historical data that can indicate a turnaround in real estate trends. Day On Market (DOM) which reached record levels in 2008 appears to have a reliable indicator. According to Winans Internatinal once the DOM reaches 3.5 months a recovery in real estate can be anticipated. As of December 2008 the Average DOM was nearly 17 months!

I need your help:
If anyone knows of a free website that offers this data, please forward the link so I can share with my readers.

Winans: No End to Housing Woes in Sight

February 4, 2009

Researchers at investment management and research firm Winans International, Novato, Calif., predict that housing prices will not recover in 2009. "This bear market will probably not end in 2009. Past real estate markets ended when the average time it took to sell a new house dropped to three and a half months. Currently, it is taking over nine months for transactions to close due to tight credit conditions," said president and founder Ken Winans. Furthermore, home prices nationally have fallen 23% since March of 2007, according to The Winans International Real Estate Index. Sales are down 71% since that time and listings have contracted 34%, according to the index. The firm said that the inventory of new homes on the market reached a record time to sell high of 16.5 months in December.

Robin S. Reed
robin@proequitymanagement.com