I was just perusing the Bubble Market Inventory Tracking blog. I noticed that the Phoenix/Maricopa and Pinal County area had over 40,000 listings for a population of 3.8 million people
I’ve been watching the San Diego area creep towards 19,000 and the total population for this area is a little over 3 million. Looks like we have a way to go to get to Phoenix’s level of inventory.
There should be a very perceivable stress factor when you look at the 2 to 1 ratio and yet there isn’t.
I just read in the Disclosures blog that there were more foreclosures in North Carolina than new home sales last month.
Something is amiss here, its real and tangible, but it doesn’t seem visible –yet.
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