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Tuesday
06Jan

San Diego housing market gives false impresssion of turnaround

DateTuesday, January 6, 2009 at 07:41PM

The autumn/winter seasonal trend is for inventory (homes for sale) and homes sold to decline. Both pick up again in the early part of the year.  However, this year, sales rose dramatically, and months supply plunged 60% year over year!

Months supply is our market timing signal.  We are looking for a 2, before prices can rise again.  Months suppply has dropped 60% year over year, giving the false indicator to some, that the market is returning to health.  However, all the increase in sales are low-end bank-owned homes.  The mid-tier and high-tier section of the market is in trouble.

Click on image below to enlarge

We invite you to become a subscriber, and then click here to see a more detailed months supply chart going back to 1998.

AuthorSchahrzad Berkland | CommentPost a Comment |

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