I threw out for the wise PIGS to comment on what this means especially when the other markets in the southwest have continued to climb. It is a fact that inventory is at a record high it is not still increasing as of April of 07 according…
1: You are reading it incorrectly. Other southwest areas are not climbing. They all adjusted down from the 6 month to 12 month just like SD. They just have not adjusted down to flat YOY like SD. But they are all showing the same pattern. Possibly a seasonal thing. I believe march-aug is the hot season to sell.
2: As other posters have said. It is a somewhat meaningless stat. It’s all about months of inventory. The decrease in inventory did not translate into sales it translates to listings going away in some manner. Most listings that remain are “must sell” IMO
