Flat, flat, flat, flat: Listing prices unchanged, again

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No names will be mentioned, Keith, but a certain commenter (Keith) mocked and ridiculed me a week ago for suggesting that the decline in listing prices may have stalled.

Update: Median listing prices were flat again in greater L.A. over the last week, holding steady at $450,000 for the fourth week in a row, according to Housing Tracker’s analysis of MLS listings. Inventory of unsold houses and condos was also essentially flat.

Regardless of whether prices have reached a bottom, a temporary bottom, or none of the above, there is a clear trend here: inventory is not building. I’d love to hear your interpretations of that trend.

The numbers:
Date Median listing price Inventory

4/06 $579,666 27,251
4/07 $545,000 35,489
5/07 $545,000 38,297
6/07 $540,000 40,766 (up 20.4% y/y)
7/07 $535,000 42,685 (up 14.5% y/y)
8/07 $529,000 44,483 (up 13.6% y/y)
9/07 $520,000 46,414 (up 16.9% y/y)
10/07 $510,000 46,603 (up 15.6% y/y)
11/07 $499,900 46,503 (up 19.0% y/y)
12/07 $495,000 (down 10.0% y/y) 43,174 (up 28.2% y/y)
1/08 $479,900 (down 12.6%) 40,850 (up 33.3% y/y)
2/08 $475,000 (down 13.5%) 43,625 (Up 38.3%)
3/08 $464,900 (down 15.5%) 42,098 (Up 31.4%)
3/31/08 $459,900 (down 16.2%) 42,038 (Up 27.6%)
4/7/08 $455,000 (down 16.7%) 42,482 (Up 23.3%)
4/14/08 $450,000 (down 17.4%) 42,428 (Up 19.6%)
4/21/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
4/28/08 $450,000 (down 17.4%) 42,728 (up 14.4%)
5/5/08 $450,000 (down 17.4%) 42,647 (up 13.7%)

Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Photo Credit: Getty Images