Our head cheerleader keeps saying that the lower inventory is the main reason why there have been fewer home sales nationwide:
Lawrence Yun, chief economist at the National Association of Realtors, says “Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that’s straining their budget.”
Is that the case between La Jolla and Carlsbad?
Here is the history, with a bubble-look-back to the 2007 stats too:
NSDCC Total Listings and Sales, Jan 1 to July 31:
We have had 11% fewer listings this year, but 2% more sales than in 2016!
The higher prices don’t seem to be getting in the way either!
Why does Yunnie keep babbling on with his nonsense? It’s because the realtor industry never wants to mention how critical the price is to the equation.
Price will fix anything!
All we really know is that more sellers and buyers have been willing to come together on price this year – and in a frenzy-like fashion, similar to 2013!