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Real Estate Confidence & Seller Psychology

Was just reading Jonathan Miller’s post on Matrix about Point2′s Real Estate Confidence Index. Check out how psychology affects the active market in real time:

Price Reduction Measures: Jan 2010 - present (90-day rolling average)

Left axis, black line: Measures the percentage of active sellers that have taken at least one price reduction in the last 90 days.  A 10% rise since the Spring – that’s a huge movement in such a short period.

Right axis, orange line: Measures “by how much” these sellers are reducing their prices. Seems sellers are getting more desperate – taking larger price reductions in a post-tax credit market.

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