I have been a bit busier the last month or so and this chart was one of the casualties last month. This is the demand vs inventory chart for Ventura County current as of today. I split the chart up into Single Family Homes (SFH) and condos. Note the X-axis on the charts are different as is (unfortunately) the color coding so make sure to check the legend on the chart to orient yourself when you click to enlarge. As you can see inventory is very low on the low end. The huge number of contingents represent a lot of short sales just sitting their not being processed. The mid to upper end of the market clearly needs some adjustment and the low end is doing pretty well because supply is being choked off by various programs.If there is a big need I can make the combined chart so people can compare todays demand to earlier months but this gives you the general sense of the market as we stand today. If I was a RE professional I would be thinking about what those charts represent.... Slower sales in the coming months due to low supply in the high demand segments.
2 comments:
Low supply...High demand.
That's inflationary, right?
I know the classical answer in these circumstances, but will it be different this time?
There are high demand segments within the market but overall sales are still historically very very low.
Post a Comment