“We are seeing an increase of inventories to normal levels, but it has dramatically changed the psychology of the market,” said Leslie Appleton-Young, chief economist for the California Association of Realtors. “Buyers have more properties to look at, more time to decide.
Mr. Pierce, I’m responding to this outragious lie that was printed in your article today in the Union Tribune. Normally I don’t write to the newspaper, but I am furious to see such blatant lie taken as truth. Inventory of homes are anything BUT normal levels. Inventory of homes are at the highest point ever in San Diego County history. I run a blog named Bubble Market Inventory Tracking and using ziprealty.com’s data, we already passed the historic population adjusted height back in June this year. How can record high in inventory be “normal levels” as quoted by Ms. Appleton-Young???
I have the data to back up what I’m saying. Ms. Appleton-Young just lies about it. You can’t continue to print this kind of trash in your paper and stay reputable. Next time you quote her, please, please ask her why would she describe “record high” inventory as “normal levels?”