The Morning Report
Get the news and information you need to take on the day.
There are 22,500 homes for sale in San Diego County, according to ZipRealty, a real estate brokerage firm.
Experts are watching the levels of inventory closely because, generally speaking, an increase in the supply of homes equates to a drop in home prices. Median sales prices have been dropping for about half a year in San Diego, but we’re yet to see a year-on-year price decline in the county.
Nationwide, there are 556,000 homes for sale, according to the blog Calculated Risk. The blog notes that’s about a 5.5-month supply of homes at the current sales rate.
Inventory levels have been climbing for several months now in San Diego, with no signs of slowing.