Update Time!! Thanks to Jim Klinge for the suggested improvement
978 up from 933 last week. Total SD County listings for attached and detached properties are 17,404 down from 18,070.
In the submarket I track very closely inventory is falling and pending are holding steady to slightly increasing. The inventory and pending numbers are actually better this year vs exactly 1 year ago. Inventory is up 18 but pendings are also up 18. This time last year the ratio of Actives to pendings was 3.5 and today it is 3.3. It constantly surprises me that things aren’t worse but they just aren’t yet. The next major test will come in Feb/Mar when inventory starts coming online rapidly. Will there be buyers?
On a side note, the high end ($2M+) seems to be going great. I have 2 clients in escrow on spec homes currently being built and expect to put another one in escrow this week. See you next week.
