Hardtack Birthday Data - 1 Year Trends and Comparisons

I spent the morning creating spreadsheet compares data from Hardtack a year ago and today. There are some interesting trends and information revealed, which I will probably write about more in the future on various weblogs. Anyhow, on the the juicy bits.

Across the 40 metro areas we have year over year data, the trend is: Prices down, inventory up. In some cases way up. Some leaders for inventory accumulation are:

Single Family
Salt Lake City, UT +139.6%
Norfolk, VA +102.4%
Alberquerque,NM +86.2%
Portland, OR +78.6%
Wichita, KS +78.6%
Wilmington, NC +78.6%

Condos
Boise, ID +261.5%
Grand Rapids, MI +212.1%
Portland, OR +162.7%
Alberquerque,NM +109.8%

As far as price is concerned, the trend is down in general, but some markets are showing appreciation. Keep in mind, Hardtack only tracks the seller's asking price. So these do not represent what the properties sell for.

Down Markets - Single Family Median Price
Salt Lake City, UT -15.2%
Bakersfield, CA -13.8%
Boston, MA -11.7%
Miami, FL -10.4%
San Diego, CA -10.2%
Orlando, FL -9.9%
Sacramento, CA -9.6%
Las Vegas, NV -9.2%
Cleveland, OH -9.1%

Up Markets - Single Family Median Price
Austin, TX +20.0%
Raliegh, NC +14.9%
Bloomington, IL +10.3%
Buffalo, NY +8.3%
Syracuse, NY +6.7%
Madison, WI +4.2%

Right now to look across the 40 metro area condo market is to glimpse insanity. The apparent overbuilding and speculation that had taken place (and in some markets may still be taking place) is impossible to ignore. Many people are going to be damaged or ruined financially from this.

Down Markets - Condo Median Price
Salt Lake City, UT -30.8%
Tampa, FL -18.3%
Syracuse, NY -14.6%
Phoenix, AZ -12.2%
Boston, MA -10.8%
Birmingham, AL -9.2%
Richmond, VA -8.2%
Miami, FL -8.1%
Bakersfield, CA -7.5%

Up Markets - Condo Median Price
Cincinnati, OH +40.8%
Austin, TX +27.2%
Omaha, NE 24.8%
Oklahoma City, OK 22.4%
Raliegh, NC 21.6%
Memphis, TN +20.6%
Casper, WY +15.7%
Boise, ID +15.5%

Lastly, and most curiously, it seems there is a bit of a land rush in many midwestern areas. After some discussion with family in the midwest, it would seem that there is a push to snap up tillable land to put into corn production. In essence to grow more ethanol. There is something of an ethanol mania sweeping farm country, with many farmers seeing this as a way to make a better living and help ensure United States energy independence at the same time.