Inventory is higher than in the spring, but remains very low for this
time of year:
There has nonetheless been some seasonal weakness to home prices:
Here are the two together; I wouldn’t expect prices to stay negative
for long with months of inventory this low (high on the chart):
If you’d like to read more words, I recommend this by the great Bill
McBride, aka Calculated Risk: Are
house prices a new bubble?
He looks at many of the same things I did for my recent-ish
VOSD article on the topic, though on a national level. And —
spoiler alert! — he comes to the same conclusion as I did (to my
relief).
More graphs below:
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November 20, 2017 @ 6:29 PM
Wow, sales are up, inventory
Wow, sales are up, inventory down double digits, but only 5% price increase YoY.
It seems like sellers are leaving money on the table by listing too low.
Certainly the condo I purchased last year was priced well under market.
I am not looking to buy a fourth property for lack of down payment funds but seems like there are deals still if you patiently wait, then pounce with a full price or more offer at the right time.
December 2, 2017 @ 12:53 PM
Rich, I would love to see the
Rich, I would love to see the San Diego housing inventory chart that you have that goes back to Jan 2007, go back further. Would be really interesting to see a 20-30 year chart on this. I know inventory was pretty low in 2004/2005. I’m wondering if right now we have all time lows.