The nationwide housing market still is in a decline. See CNN article here.
For the Central Coast, August has been a slow month. As of a minute ago, we have had 679 New Listings and only 349 Pending Sales. Not only is that a real low number of Pending sales, but the new listing/pending ratio is at almost 2 which we haven’t seen in any month this year yet. This means we’ll see inventory growth once again.
The number of price changes is increasing as expected. If homeowners want to sell their home before we get into the traditional slow time of the year, they are going to have to do something to stand out from the crowd and value is one way to do this. So far we’ve had 1159 price changes for the month.
I’ll be updating the inventory levels and graphs after the end of the month on the www.SloWatch.com page.