Well, October wasn’t exactly a blockbuster month as far as housing data is concerned, but in the interest of staying on top of things, let’s quickly go through the usual graphs.
The median price per square foot was slightly up for condos, slightly down for single family homes, and unchanged in the aggregate:
Sales were down, as is typical for October:
Inventory was also down, as is also typical for October:
And the number of months of inventory was, like home prices, virtually unchanged:
And I think that was just about as thrilling as I promised it would be. On the other hand, these days, perhaps price stability of any asset is news in itself.
Rich Toscano is a financial advisor with Pacific Capital Associates*. He can be contacted at rtoscano@pcasd.com.