Is there any information regarding the inventory levels as a percentage of the total housing stock in San Diego?
There were thousands of new homes/condos/conversions created over the last several years and I was wondering what the percentage inventory levels were presently versus the last time the market had a downturn (as a percentage of total housing stock).
I know as an absolute number the inventory level in San Diego is at it’s largest level in history but as a percentage of total housing stock how does it stack up to the inventory:housing stock ratio compared to the 90’s downturn?
If I recall correctly, the last downturn had far less housing stock (we had been building at pre-WWII levels in some years and only a few thousand units were built) and the inventory levels were about 90% of what they are now.
I saw the post by LA_Renter for the inventory in relation to population but I am wondering how it stacks up in relation to the total number of condo/homes that could be sold.
I guess I would ask the same question for foreclosures.
I did a quick-n-dirty count in public records, which shows 450,862 SFRs and condos built prior to 1994, and 72,295 built after 1994. That’s about a 14% increase in the housing stocks, which to me means we’d have to see another 14% increase in listing inventory before we reached the effective conditions of the mid-1990s.
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