San Diego Housing Market News and Analysis
July 2012 Resale Data Rodeo
Submitted by Rich Toscano on August 21, 2012 - 11:03am
After a pretty steady rise for the year to this point, home prices (as measured by the median price per square foot) largely flattened out in July:
However, inventory declined again:
And months' of inventory remained very low by historical standards (the price indicator is still rising in the first graph because it is using an estimate of the Case-Shiller Index, which is based on 3 months of sales prices):
In short, while prices flattened out as we started to enter the weaker (for housing) half of the year, supply remained quite constrained, which should be supportive of prices in the months ahead.
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