997 up from 978 last week. Total SD County listings for attached and detached properties are 16,947 down from 17,404.
In the submarket I track very closely inventory is where it was last year and falling faster than last year (more people are giving up for the holidays quicker). Pendings are about 10% higher than last year. It constantly surprises me that things aren’t worse but they just aren’t yet.
New insight of the week. Last week I spent a day visitng the new home communities in Coastal North County. I expected them to be in really bad shape but it was the complete opposite. Most of them have figured out a way to thin out their inventory. The best deals seemed to be in October as most of the reps said you could get a better deal then than today. There aren’t alot of compelling new homes left on the market nor will there be this Spring around here. This could help keep the market together a bit. I’m starting to think the market will stay together better than I thought and am considering scaling back my predicted price decline from 10% to 5% for 2007.
