Tell me why: Listing prices flat for 4th straight week

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

Listing prices in Los Angeles County remained nearly flat for the fourth week in a row, and inventory of for-sale homes and condos held steady, according to Housing Tracker’s weekly analysis of MLS listings.

Median listing prices were unchanged at $399,000 over the week ending Monday, representing a decline of 23.1% from year-earlier levels. Inventory, at 40,539, was flat from the week earlier, and down 12.4% from year-ago levels.

So my question to you: What explains a month of flat prices? A sign the market is bottoming? A potentially misleading and meaningless lull in the downturn? A change in the mix of what’s for sale, with more expensive homes coming onto the market and stopping the decline in median prices? You tell me.

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%)
4/08 $450,000 (down 17.4%) 42,430 (up 16.7%)
5/08 $449,900 (down 17.4%) 42,532 (up 11.1%)
6/08 $440,000 (down 18.5%) 42,398 (up 4.0%)
7/08 $425,000 (down 20.6%) 44,636 (up 4.6%)
8/08 $410,000 (down 22.3%) 42,279 (down 5.1%)
9/2/08 $400,000 (down 23.8%) 42,081 (down 8.6%)
9/8/08 $399,999 (down 23.1%) 41,803 (down 9.9%)
9/15/08 $399,900 (down 23.1%) 42,553 (down 7.9%)
9/22/08 $399,000 (down 23.1%) 40,565 (down 12.3%)
9/29/08 $399,000 (down23.1%) 40,539 (down 12.4%)

-- Peter Viles

Your thoughts? Comments? E-mail story tips to Peter Viles.