Monthly for-sale home inventory increased in January for the first time in 18 months. California markets saw the highest month-to-month jumps in inventory, up 10.6 percent in the San Francisco Bay Area, 8 percent in Orange County, 6.5 percent in San Diego, and 4.5 percent in Los Angeles.
The number of homes for sale increased 2.9 percent from December, an additional 15,818 homes, to a total of 567,265 single-family homes and condominiums listed in 27 metropolitan areas across the country. December saw 2009’s greatest fall in month-to-month inventory, down 4.83 percent.
Inventory in January was down 22.3 percent year-over year, however, with 163,131 fewer homes listed than in January 2009. Los Angeles inventory was down a whopping 45.5% from last January, making it still a seller’s market.
Los Angeles Homes listed: 38,783
Month over Month Change: 4.5%
Year over Year Change: -45.5%
What do these numbers mean to our micro market? Call me for a quiet conversation.