Months of Inventory took a significant drop over the last month. It hasn’t been in the 13’s since last September. This is also a good sign for the market as the Months of Inventory uses Sold data over the past 30 days and as you probably read in my last post, the number of Pending Sales for February were also up.
As far as individual cities, inventory rose in most from the first of last month. Santa Maria, Atascadero, Cambria, Cayucos, Morro Bay, and San Luis Obispo had the largest increases.
I updated the data and charts on the http://www.slowatch.com/ site.