64% of homes for sale in the US

census bureau on housing units, approx. 127 million:

factfinder.census.gov...

Homes for sale on zillow.com : 82 million

82 million for sale / 127 million total = 64.5 % of homes are for sale.


The media only makes vague references to the increasing inventory of unsold homes on the market.

Does anyone have more data on the number of homes being sold across the US?

Where is that number on zillow? the only number I found was 2.8 million for sale on zillow. I don't know how that number relates to the total for sale though.
-v

Clearly, the estimates are grossly inaccurate.

Drive around and tell me if you see half of all properties for sale.

I have to say that I have noticed an increased of empty homes in my neck of the woods, specially in what we call in my humble neighborhood "better scale homes" or expensive neighborhoods.

reply to post by marg6043


Increase, definitely. But more than half? No.

In certain areas I've seen almost every other home for sale but then in other areas not a single home for sale.

I'm still waiting for all these jer-off sellers to realize nobody is going to pay up for a home in a down market so I can afford to buy one. These stupid houses are sitting on the market over-priced for months and months, some going on years now. They clearly don't want to sell as badly as the media would like me to believe.

reply to post by thisguyrighthere

Originally posted by thisguyrighthere
They clearly don't want to sell as badly as the media would like me to believe.

I agree. Some investors made so much money on some transactions that I have to believe they aren't as underwater as many think. I believe when the carrying cost of the homes exceeds their pain tolerance, you will see a new wave of price decreases. Eventually the bottom will come, but I think that could still take a year or MORE before that happens.

reply to post by loam


A agree with the your reply...
maybe 30% will be more near

From zillow.com:

# All Homes:82,456,911

# For Sale:3,077,441

I take this to mean that while zillow.com has information on 82 million homes, only 3 million are actually for sale.

Please do your research before posting inaccurate data.

reply to post by thisguyrighthere


You still have to pay off what ever mortgage you have on the home so there really is a limit on how far most people (if they still have a mortgage or another lean on thier proptery) can drop thier price too!

There is no way 64% of homes are for sale!!! I bet the number is pretty high but not that high... Could someone find out?

reply to post by Naturally Smooth


Sorry, missed your post! Thanks this number was completely impossible

No, there aren't that many homes up for sale, even up here in my neck of the woods, and in fact in the oil boom areas, housing is increasing in price as of yet and they are still building new housing for the residents pouring into the jobs yet available. (Halliburton, anyone?)

Yup, I live in one of the few areas where there are still jobs, as of yet.

But housing prices are indeed going down in most areas of where I live, and if you look, you can find perfectly liveable housing for dirt cheap. All one has to do is drive 100 miles away from the oil boom area and housing prices decrease rapidly. High gas prices means no one wants to drive. If you must have a McMansion, you will McPay, but if you just want a house to live in, one can be had very reasonable.

I do beleive in some areas of our nation, housing up for sale could approach the 50% and higher rate very soon, but I don't think it is even close to that level yet. Just wait another 6 mos. There is no quick fix to what's going on now, and I don't believe we have seen the bottom of this barrel yet.

There are LOTS in my neck of the woods and when you ask the sellers why they are selling, do you know what they say? They are selling so they can move into BIGGER homes!!!! WOW>

64% that seems a little high. I would think more like 20-25% is more in the ball park. In my girlfriend's neighborhood there are quite a few houses up for sale. 6 on her street alone.

I read recently about a house that sold for $1 in Detroit. It was on the market for a month before it sold.

reply to post by WEOPPOSEDECEPTION


Yea, haha, I heard about that too, the reason why it wouldn't sell is because it was essentially a shell. Anything and everything worth value was stripped from it. Basically you would've had to re-build the entire inside.