Here are a few quick graphs to portray demand and supply for San Diego resale housing in September.
Sales increased last month and remained slightly above the levels from the same time last year. While sales are still on the weak side compared to San Diego’s real estate history, they’ve soared from the record-setting low levels in which they were mired in late 2007.
The availability of housing for sale, meanwhile, remained at the modest levels seen since this spring:
We can compare how supply stacks up against demand by dividing the number of homes for sale in a given month by the number of sales that same month. The combination of decent demand and tight supply has made for a very low months-of-inventory figure throughout 2009, and last month was no different.
The limited housing supply combined with jaw-dropping levels of government intervention to help the home price rally score another month in September.