Housing Supply and Demand Improves Again
While there wasn't much good news in the home price department last month, sales volume and inventory made for another story.
 Sales activity quickened in May, resulting in a 5.2 percent decline in volume from a year prior. This number doesn't seem all that impressive on the surface, but compared to the 30 percent annual declines on display earlier in the year it is actually a big improvement.
Inventory also flattened again so that it was just 1.4 percent over last year's figure.
The number of months' worth of inventory declined to 7.6 months -- still in or near bear market territory, but a vast improvement over the 12 months of inventory we saw earlier in the year.
That's the good news. The bad news is that as much as sales have been increasing they still aren't keeping pace with foreclosure activity.
Homes going into foreclosure tend to eventually end up as must-sell inventory, which is the type of inventory that puts the most downward pressure on home prices. So while volume has increased and current inventory has moderated, San Diego's housing market will probably not be out of the woods until that pipeline of future must-sell inventory clears out a bit -- or at least until it stops filling up so fast.
-- RICH TOSCANO
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CEO of Barrio Logan charter schools talks about terminating employees.
Friday, July 25 -- 4:54 pm
The fired SEDC prez had been silent, but opens up to the business paper.
Friday, July 25 -- 5:19 pm
Fred Maas calls for 'fact-finding mission' on departed president's involvement in 7th and Market project.
Friday, July 25 -- 3:21 pm
SURVIVAL IN SAN DIEGO
She's getting some deserved vacation, but will be back soon.
Wednesday, July 23 -- 4:13 pm
LETTERS TO THE EDITOR
The SEDC and the PDP mess and all that surrounds it is the best reading I've had in a while.
Friday, July 25 -- 11:14 am
CAFÉ SAN DIEGO
Does this mean that even after two years of strong mayor, we continue to harbor waste, fraud and abuse in our system?
Friday, July 25 -- 1:23 pm
COMMENTARY: SLOP
The cop whose dog died in his hot car had just sued for, and won, a boost in his retirement checks for taking care of his canine partners.
Friday, July 25 -- 5:21 pm
COMMENTARY: RICH TOSCANO
June made for another record-setting month in San Diego foreclosure activity.
Tuesday, July 22 -- 12:34 pm
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Funding helps for now, but more will be needed to test therapies.
Thursday, August 21, 2008 -- 1:07 pm
The city councilman backs his former opponent in the city attorney's race.
Wednesday, August 20, 2008 -- 5:30 pm
The city councilman says he will re-nominate Rich Geisler to the SEDC board.
Wednesday, August 20, 2008 -- 2:31 pm
SURVIVAL IN SAN DIEGO
Local foreclosure-as-choice company says it's growing.
Wednesday, August 20, 2008 -- 6:14 pm
LETTERS TO THE EDITOR
The hotel chain's Grapevine, Texas project just won't stop.
Wednesday, August 20, 2008 -- 7:21 pm
CAFÉ SAN DIEGO
SDEA can't support differential pay; they're not wired that way.
Thursday, August 21, 2008 -- 1:59 pm
COMMENTARY: SLOP
The Chula Vista city manager is caught surfing 'Web pages.'
Tuesday, August 19, 2008 -- 6:38 pm
COMMENTARY: RICH TOSCANO
Savers are watching their real wealth disappear for the benefit of the housing market and financial industry.
Tuesday, August 19, 2008 -- 6:04 pm
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