Here is the inventory trend of detached and attached active listings in San Diego County, with the counts taken in the middle of each month. Look at how the inventory was flying off the shelf in Spring, 2009, and has been relatively low since…well, at least until a couple of months ago.
The recent spike means the current list-price exuberance is a lot of hot air. There hasn’t been a rush to lower list prices yet, but sellers, it’s mid-July – it’s about time!
Hat tip to Schahrzad for her help with the numbers.