December 23, 2020
By Saeed Ghaffari
Thank somebody, how about the holidays!
So Cal active inventory continued its downward trend this week with almost the same pace as the week before. No surprise there. It was the week before the Christmas week. I would have been surprised if the trend would have been in the other direction. The same is expected for the remainder of the year. In January, things are expected to pick up barring unexpected social and political events.
The total active listing inventory last week comprised of 18.12% of new listing hitting the market and the week before this number was 21.1%.
Real estate professionals don’t take break unless the sellers and the buyers choose to do so. For that, maybe they should thank the holidays for the much necessary break they are being afforded.
Graphs below show a 5-week trend of the So Cal market on their respective data.
Just like the active listing inventory, the new listing experienced a downward trend, at a pace of 14.14%.
The drop in coming soon inventory is less than 1%. That’s really a gift to the real estate community, considering the holidays.
A slight drop in the inventory of properties with 100+ days on the market. A good sign.
The Closed Listings inventory was better this week. Thank goodness for the historically low interest rates.
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Saeed Ghaffari Saeed is the founder of Money, Real Estate & More. With over 30 years of experience as a lender, investor and a real estate professional, he provides free consulting in these fields. To connect with Saeed, sign up for free / log in on...
Anita Jones Anita Jones is a licensed Realtor with over 25 years of experience. Anita understands the home buying and home sale process. To connect with her, sign up on and/or log in to the platform to send her a private message. History & Fun Facts regarding...
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