1. The comparison and statement is year over year. Looking at the last month, 3months, 6months etc. Is misleading. What was the inventory at this time last year. (i.e. has the market gotten better, worse, or stabilized in the past year.)
2. For all of the comments on “phantom inventory” and people moving “up and out of the market” etc. etc. etc. Are you saying that these phenomenon are unique to San Diego only and don’t exist in . . . oh lets say Orange County or Riverside??? If you are going to make the argument that “phantom inventoy” (if it exists to any significant degree at all) and “people moving out of the market” as phenomena skewing inventory is only happening in San Diego and not elsewhere please explain why only in SD and not in OC or Riverside. Otherwise the point is still apt and valid . . . namely SD RE inventory is stable yoy for the past 2 months while other markets are higher. This could portend that SD is leading the way, as it has done throughout the cycle, of arriving at the bottom first. Thats all.
Impatient renter . . . .
In search of a crystal ball . . . .
