San Diego Housing Market News and Analysis
April 2012 Resale Data Rodeo
Submitted by Rich Toscano on May 14, 2012 - 6:18pm
Inventory has remained super tight, and as the historical relationship depicted in the following chart would have predicted, prices have been on the rise:
Of course, we are in a seasonally strong time of year which, as the following graph shows, tends to experience some price strength:
However, months of inventory is unusually low this spring:
This suggests that the spring bounce could be more pronounced this year. As long as supply (as measured by months of inventory) stays this low, all other things staying equal, the pressure on home prices will be to the upside. Whether inventory stays this low, and whether all other things remain equal, remain to be seen...
More graphs below:
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