Do you have price per sq ft? I know that looking at the median can be decieving as well as looking at other factors, days on market, etc.
It’s obviously possible that an area with only 3 months inventory could have good months here and there, but I don’t think you can look at that as being indicative of the broader market conditions. All the fundamentals suggest that things will be going down for a long time…because things are sticky on the way down, so having a surprise month here and there is probably not much of a surprise after all.
Take a look at REO’s this month…they are down from last month in SD county, but I bet that next month we’ll see things back on track to break records. That’s what makes tracking all this data so much fun…every now and then you get a curve ball.
