Falling housing inventory in San Diego is not a cause for concern
Homes for sale in San Diego have unexpectedly decreased this February, but this is not a cause for concern.
According to the Voice of San Diego, the number of listings in San Diego in February of 2012 decreased to a level over 20 percent below figures from the previous year. This is considered to be uncommon for February, which normally sees a plateau in housing inventory.
However, while this is turning San Diego into a more seller-driven market, it is also good news for potential buyers. The housing industry is becoming much more stable than it was just a few years ago.
"While the median home price dipped in February, the year-over-year decline was the smallest recorded since December 2010," said California Association of Realtors President LeFrancis Arnold, according to the Wall Street Journal. "This may be a signal of a possible stabilization in home prices, which should bode well for prospective buyers who have been on the sidelines waiting for prices to level out and may entice them to jump into the market."
Fluctuating prices can be a nightmare for buyers, who may end up with devalued property as a result, but buyers in San Diego can look forward to a more positive market in the near future.