LA Asking Prices Flat at $545,000

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Median asking prices in LA, as tracked by the website housingtracker.net, were flat over the past week, holding at $545,000. That’s a decline of 5.9% over the past 12 months. Inventory listed on MLS stood at 36,348 homes -- up 29.5% percent over the past 12 months. Backstory: Housingtracker calculates median asking prices on the theory that they tell a side of the real estate story that sales prices don’t tell -- that is, they include those houses that don’t sell. Other numbers we like to follow: Countrywide keeps collecting homes. It now owns 1,196 in California and 7,382 nationwide, according to this Countrywide foreclosure blog, which tracks the growing pile of houses the company is stuck with at any given moment. Those numbers are up from 1,173 and 7,230 last week. At some point Countrywide -- because it is not in the business of owning or renting houses -- is going to have to start selling these houses. Thoughts? Are asking prices a relevant way to measure the market? Use the comment button.