1,192 (about 6% higher) up from 1,122 last week. Distress sales are increasing at a regular rate but the lenders arent giving anything away…..yet.
Total SD County listings for attached and detached properties are 15,460 up from 15,200. Inventory continues to increase at a very slow pace. I now have enough data to start calling it a trend. I have tons of data for my sub-market in the North County Coastal area going back 3 years when I started collecting it.
When I look at the inventory trend it looks alot like early 2005 and not like early 2006. If the trend holds, inventory won’t start increasing in earnest until early April. This would allow the market to build a firm price level based upon relatively thin inventory for the rest of 2007. If this happens, I believe sellers after Spring will hang their hopes onto the prices others got in the 1st Quarter. The result will be a very slow change in prices this year unlike last year.
