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The number of homes for sale in San Diego hit a new record today, following a trend that’s been continuing for several weeks. As of a couple of minutes ago, there were 21,398 homes listed for sale on the county’s Multiple Listing Service, according to ZipRealty, a California real estate broker.

Despite assurances from some experts that the inventory rises have to end sometime, the number of homes for sale has continued to pile up throughout the spring, which is usually a great time for real estate sales.

Home sales have been steadily declining as well, leading to an impasse between home buyers and home sellers. Many economists insist that the local economy is doing pretty well, and that there are plenty of reasons to buy a home in San Diego. But buyers, fearful that they may be investing in a home just as home prices peak, have gotten cold feet in what was formerly a red-hot market.

Nationwide, experts are watching San Diego closely to see what will come of the stand-off between buyers and sellers. San Diego has been called the “canary in the coal mine” for the nation’s real estate market and for the nation’s economy as a whole.

WILL CARLESS

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