San Diego Real Estate Sales have been brisk, particularly at midpoint levels away from the highs and lows, and months’ supply of inventory continues to drop, sometimes significantly.
Market-wide, inventory levels were down 15.8 percent in June. The property type that lost the least inventory was the Single-Family Homes segment, where it decreased 11.2 percent. That amounts to 2.6 months supply for Single-Family Homes and 1.7 months supply for Condos – Townhomes.
The national unemployment rate recently dropped 0.3 percent to 4.7 percent, but some states felt more of a pinch in their own figures. Similarly, the low inventory situation is showing signs of strain in markets where there are few homes for purchase.
Keller Williams San Diego Metro was honored to have Leslie Appleton-Young, VP and Chief Economist of the California Association of Realtors as the keynote speaker for our team meeting. These are the highlights from the meeting: