Bill at CR brought up today how the national inventory of active listings has “bottomed”, and is trending upward:
The group of “unsolds” has been growing in San Diego too – from the Department of Numbers (who had a glitch in their system in July):
February was the lowest inventory ever recorded, and now we are +21.4% higher – but still well-under the previous seven years on the graph.
The number of total listings inputted year-to-date is in check also. Last year at this time, we had 48,100 total listings inputted, and in 2013 we are at 51,000 – only about 6% higher.
In the post below we saw that the lower-end market is what’s really constrained. If it weren’t for all the high-enders sitting around having a cigar, our market would feel like the Sahara Desert!
Total SD Sales (detached & attached) from Jan. 1 to Sept. 15th:
2012: 26,105 @ $231/sf average
2013: 27,439 @ $278/sf average (+20%)