The U.S. housing recovery seems to be spreading throughout the nation at a swift rate, but can San Diego County still hold on to its title as one of the healthiest markets and maintain growth with such little inventory of homes for sale?
Some San Diego County Realtors have been desperately crying out for more homes to sell and home buyers and California real estate investors certainly wouldn't mind some more slack to ease ferocious bidding wars over the houses that do come on the market in hot spots like La Jolla.
Of course in reality, low housing inventory levels mean bigger demand and heated battles for what homes are on the market, driving prices higher. However, a steady flow of inventory and real estate transactions will provide brisk acceleration in equity appreciation and sustainable growth while bringing in new money into bolster the local housing market and dollars for the community that will spur on the economy.
The good news for those that would like to see more homes coming available for sale in Southern California is most recent stats show a slight loosening, even if it is a seasonal flux. As of February 2013 he number of homes for sale in San Diego ticked up to 4,055 units from 3.938 in January. This results in a slightly better absorption rate of 1.7 months' of housing inventory on the market.
On top of this Fannie Mae and Freddie Mac's new deal to allow underwater but on time borrowers be approved for short sales and mortgage forgiveness and continued foreclosures in Encinitas and Carlsbad offer hope of even more listings hitting the market in the next few weeks.
However, these properties will still be hot items and the best of them will go fast, giving the edge to home buyers and San Diego real estate investors plugged in to receive instant notification of new properties for sale as soon as they become available.