Tomorrow we will get the latest pricing data via the Case-Shiller Index.
Last month, San Diego was #3 in the nation with a 12.3% YoY increase, and we should see a similar number tomorrow – only because we may have taken a bit of a breather (see the trend above).
We could see slower appreciation just because there aren’t enough homes selling to reach max momentum:
Months’ Supply of San Diego County Houses For Sale Over 2,000sf:
In previous Januarys (the typical low point for the year) we still had around 3-months worth (or more), but now the houses for sale in the county is down to about one-months’ worth of supply!
If we had a surge of new listings that doubled the current inventory, it’s very likely that there is enough demand to soak it up – and cause prices to go up faster!