Our friends at Dr HB mentioned that inventory is rising in Southern California.
How about San Diego?
Here is a comparison of all detached and attached SD properties listed in April and May since 1999, and the percentage change between the two months:
|April/May||# of new listings||% chg|
Yes, there is still a day left in this month, but when the May, 2010 listings are around the lowest of any in the last eleven years, it’s not a flood. But are the homes priced to sell, or priced to sit?
Housingtracker.net publishes the monthly average inventory of houses and condos back to 2007. The change in inventory between January and May can give us a feel for the accuracy in pricing – is the supply of active listings growing, or shrinking?
|Avg Inventory||January||May||% chg|
It was frenzy-like last spring, but this year is a different story. The plus-27% increase this year shows the exuberance of sellers’ pricing – we’re seeing some of the worst list-pricing in history, relative to actual market values.