One indication to look at to try to tell if the local real estate market may be bottoming out is inventory levels. Over the last month, we’ve seen drops in most cities but that happened last year at this time too. Some cities are at the lowest level in over 2 years. It would be nice to see most all Central Coast cities at 2-year lows but as long as inventory isn’t rising, that’s still an encouraging sign.
The cities with inventory levels for residential properties at a 2-year low are:
See www.SloWatch.com site for the inventory levels in all cities.