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So Much for That Housing Shortage
 The accompanying chart should shed some light on why home price declines have picked up the pace in recent months. On display is the number of months' worth of inventory listed for sale.
This metric is very simply calculated by dividing the number of homes for sale by the number of homes sold during a given month. The resulting figure gives us a rough but decent-enough idea of where things stand as far as short-term supply and demand are concerned.
The chart shows that supply has risen substantially compared to demand in recent months. As it stands, the number of months' worth of available inventory is more than double what it was at this time last year.
Conventional wisdom has it that a housing market with over 6 months of inventory is considered a "buyer's market," for what little insight that provides.
-- RICH TOSCANO
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Curious for more information about next week's airport vote? Listen to this.
Wednesday, November 1 -- 5:28 pm
Duncan Hunter gives Newsweek a new rationale for his decision to run for president.
Wednesday, November 1 -- 5:02 pm
Long-time employees offered voluntary buyouts.
Wednesday, November 1 -- 1:55 pm
SURVIVAL IN SAN DIEGO
'The tent' shelter opens today with beds, meals and health services triage for at least 200 homeless people. Even the chiropractors are coming.
Wednesday, November 1 -- 7:57 am
LETTERS TO THE EDITOR
Wednesday, November 1 -- 4:21 pm
CAFÉ SAN DIEGO
The surf spot formerly known as "Harry's."
Wednesday, November 1 -- 3:05 pm
COMMENTARY: SLOP
As the U-T rearranges itself, it should know that more people are interested in what might happen than just its employees.
Wednesday, November 1 -- 6:33 pm
COMMENTARY: RICH TOSCANO
The last piece (seriously) on San Diego's population changes.
Monday, October 30 -- 11:58 am
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This Just In
A little recognition. » Nov. 21 -- 4:03 pm
It doesn't look like the mayor has the City Council votes to shut down libraries and rec centers.
Nov. 21 -- 2:02 pm
The first day a store opens, shoplifters have a field day.
Nov. 21 -- 11:43 am
SURVIVAL IN SAN DIEGO
Retail and construction sectors lose a combined 10,000 jobs over the year in San Diego County.
Nov. 21 -- 5:43 pm
LETTERS TO THE EDITOR
Time to pony up.
Nov. 20 -- 7:20 pm
CAFÉ SAN DIEGO
Follow up to your responses and questions.
Nov. 20 -- 7:07 pm
COMMENTARY: SLOP
It's not looking like he did.
Nov. 21 -- 4:50 pm
COMMENTARY: RICH TOSCANO
Home sales have exploded in low-priced areas of San Diego even as they decline in pricier neighborhoods.
Nov. 20 -- 11:13 pm
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