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February Housing Supply and Demand

E-MAIL STORY

San Diego resale housing inventory increased by 2.8 percent between January and February. By comparison, the same period last year saw an inventory increase of 8.4 percent. So while inventory is climbing, as would be expected after the winter break, it doesn't look like we will have the type of supply surge that we saw in 2006.

Overall inventory was up 3.6 percent between February 2006 and February 2007.

Interestingly, growth in the supply of detached homes has outstripped that of condos. While detached home inventory was up 13.6 percent from last year, condo inventory was actually down by 9.9 percent over the same period.

Sales volume was weak after a relatively strong showing in January: detached home sales were down 13.3 percent and condo sales were down 15.7 percent from a year ago.

The months-of-inventory-supply figure rose for both property types to around 8 months. Take this number with a grain of salt, however, as sales figures are still shaking off the holiday aftereffects. Next month's data will give us a better read on supply as it relates to demand.

-- RICH TOSCANO

A Nerd's Eye View

Rich Toscano is a financial advisor with Pacific Capital Associates*;
he also writes about San Diego real estate at Piggington's Econo-Almanac. Contact him at rtoscano@pcasd.com.

Recent Nerd's Eye Post

Sales and Must-Sell Inventory (April 4)

February Jobs (March 30)

Population Changes (March 28)

Interest Rate Update (March 23)

Fewer Motivated Sellers? (March 26)

February Defaults (March 28)

January Jobs (March 16)

February Housing Supply and Demand (March 14)

More Regulations (March 13)

*Investment advisory services and securities offered through Girard Securities, Inc., member SIPC/FINRA.

This Just In

Budget Authority Showdown:

The City Council will vote on competing proposals Tuesday morning.

Wednesday, April 4 -- 1:58 pm

County Counsel Explains:

Why the county attorney sought out a conflict-of-interest form.

Wednesday, April 4 -- 11:42 am

LAPD Gets Cops for Trash:

The Los Angeles Police Department has exceeded its goal for hiring this year by charging more for trash collection.

Tuesday, April 3 -- 7:43 pm

Wanted: Foreclosure Reps :

Help wanted ads target personnel to help banks with 'loss mitigation.'

Wednesday, April 4 -- 11:46 am

LETTERS TO THE EDITOR

Thank Aguirre for Standing Up:

It's completely questionable when cops don't enforce a judicial directive and it's supported by local establishment figures.

Wednesday, April 4 -- 5:20 pm

CAFÉ SAN DIEGO

Hooks and Ladders :

How a $5 tool defeats the $100 million triple border fence.

Wednesday, April 4 -- 6:07 pm

COMMENTARY: SLOP

Aguirre: Prepare for Me :

The city attorney tells the pension board to get ready for him and his deputies.

Monday, April 2 -- 7:11 pm

COMMENTARY: RICH TOSCANO

Sales and Must-Sell Inventory :

Low sales volume and high must-sell inventory have historically been a bad combination.

Wednesday, April 4 -- 10:48 am

Graham Left Fla. Same Way:

Her exit from a redevelopment post in West Palm Beach similar.

Thursday, July 24, 2008 -- 7:15 pm

'Difficult Decisions':

Nancy Graham explains her resignation.

Thursday, July 24, 2008 -- 4:53 pm

Audits, Audits Everywhere:

In addition to auditing SEDC, the city will also look at three other city agencies.

Thursday, July 24, 2008 -- 4:47 pm

KB's Gone Fishin':

She's getting some deserved vacation, but will be back soon.

Wednesday, July 23, 2008 -- 4:13 pm