Umm, ~30% of the pending sales in Oceanside are some form of distressed sale. Same for several communities in SD County. That number will rise significantly over the next few months.
Regardless whether there are 9.5 months of inventory on the market or only 9.3 months, it is the number of motivated sellers who will drive the market and close the sales. The others are just excess sitting on the sidelines.
When the number of listings gets down to where it only represents 4 or 5 months worth of sales, then prices will start to reverse. They basically can’t reverse before then.
