Rich has posted his September report here:
It is remarkable how similar this year’s inventory has been to last year’s – and the trajectory is virtually identical as well.
Sales have been strong too, in spite of the higher pricing:
Judging by those graphs, market conditions are ideal – could it get any better?
I think so! If we had about 10% more inventory, the demand would soak it up and probably cause prices to go up faster too. I say 10% because it wouldn’t be that noticeable – if there was a 20% or more increase in inventory, buyers would most likely adopt a wait-and-see attitude because historically, we are overdue for a correction. But it’s been different this time – higher prices haven’t brought more sellers to market.
Rich is also back at the Voice of San Diego!