Nationwide the inventory rose 10.5. YOY inventory in San Diego is down 0.8%. So. Cal. has historically led the rest of the nation through the various stages of a housing cycle both up and down. While SD RE inventory is now at a YOY flat level the rest of the US is still higher. All real estate is local . . . . What this portends for the near to intermediate future remains to be seen (read: I am not calling a bottom just pointing out that inventories have stopped expanding in the SD RE market . . . spare me the specious blather re "must sell" or "phantom" inventory. The simple fact is that there are fewer homes for sale on the MLS in SD than there were at this time last year).
Foreclosures and NOD are way up though. http://www.foreclosureforum.com/stats.html There is more foreclosure activity than sales. Maybe people realize they cannot sell, so they are just waiting for the bank to take the house back.
Nationwide the inventory rose 10.5. YOY inventory in San Diego is down 0.8%. So. Cal. has historically led the rest of the nation through the various stages of a housing cycle both up and down. While SD RE inventory is now at a YOY flat level the rest of the US is still higher. All real estate is local . . . . What this portends for the near to intermediate future remains to be seen (read: I am not calling a bottom just pointing out that inventories have stopped expanding in the SD RE market . . . spare me the specious blather re "must sell" or "phantom" inventory. The simple fact is that there are fewer homes for sale on the MLS in SD than there were at this time last year).
http://www.housingtracker.net/askingpric...
In search of a crystal ball . . . .
Foreclosures and NOD are way up though. http://www.foreclosureforum.com/stats.html There is more foreclosure activity than sales. Maybe people realize they cannot sell, so they are just waiting for the bank to take the house back.