Can it be possible? Despite the housing bust and high foreclosure rates, in some areas we don’t have enough homes to sell. There is currently an eight-month supply of homes on the market — meaning that, at the current sales pace, it would take eight months to run through the backlog.That’s still a lot compared to the six-month supply that is expected in a normal market, but it is much better than it was. In March, there were nearly 2% fewer homes on the market than there were a year ago, and 21.7% fewer than the record of 4.6 million in July 2008.
In California, almost all cities have a short supply of single-family homes.That’s especially true in the lower-priced categories, according to Leslie Appleton-Young, chief economist for the California Association of Realtors.The supply of homes that sell for less than $300,000 is at 3.2 months statewide, down from an already low 3.3 month supply 12 months ago.Inventory of moderately priced homes, those between $300,000 and 500,000, fell to 4.2 months in March, down from 4.5 months in March 2009.There are plenty of more expensive homes in California, but this inventory is going quick: inventory for million-dollar-plus homes has dropped from 21.6 months to 10.9 months.
What is your price range for purchasing a home in Carlsbad, Encinitas, Cardiff, Rancho Santa Fe and any other community from Old Town to Oceanside?
Call or email me today cell 858-504-0449, RobDennyHomes@gmail.com!
RELAX… I’ll handle the details.
Related posts:
- March NCSDAR Single Family Attached Homes Report Shows North County Leading The Way
- North County San Diego Single-Family Detached Homes Sales Show Price Gains, Less Days On Market
- New-home sales rise fastest in 47 years
- MBS Program Nears End
- North County San Diego March 2010 Statistics
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