I updated the inventory per city and the Months of Inventory (MOI) calculations on the http://www.slowatch.com/ site.
While inventory levels have dropped in most cities, the Months of Inventory is a different story. For SLO County rose from 14.5 months on 11/1 to 15.1 months as of today. SLO County + Santa Maria/Orcutt rose from 15.1 to 15.4 months.
You’ll see on the MOI chart that some cities had hardly any Sales in the past 30 days which really made the Months of Inventory jump way up. Pismo Beach only had 2 sales in November which made its MOI jump to 52 months! Grover Beach and Nipomo also had slow months of sales.
I still need to update the MLS statistics graph which I will do later today….