Inventory Flattening HigherPosted on Thursday, August 6th, 2009 at 5:29am.
Inventory has receded from the somewhat alarming peaks reached early this year (155, twice), in part due to sales but also due, in greater part, to cancellations – sellers quitting this difficult market rather than unloading into it. (More data on this aspect to come.)
The sales pace west of Sepulveda remains near, but below, last year's.
Perhaps the most relevant change west of Sepulveda has been the Sand Section's taking over as the sub-region with the highest SFR inventory. A trend in this direction becomes visible on our chart as of last Fall, and a tussle between the Sand and Trees continued early this year.
But now inventory is clearly higher in the beach-adjacent areas. Of course, with more townhomes, the Sand has often had the most inventory of homes for sale west of Hwy. 1, but for the area to claim this mantle with SFRs alone is new for MBC's 2.5-year existence. The area has peaked twice at 63 this year, including as of July 31.
The region with the greatest inventory growth, on a percentage basis, remains the Hill Section. We still recall the days of 6-8 SFRs for sale, not so long ago. From a high of 39 in May this year, the Hills are back down to 30 offerings. That's not too far above the 24 at the end of July 2008.
The Tree Section is holding steady, with 48 offerings as of July 31 in both 2008 and 2009. A little stability there, at least.
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