Hidden Parts of The Housing Inventory

There are several problems with trying to analyze the real estate market.

If you look at the inventory you will see that it is at historic lows throughout San Diego. Our Hidden Meadows inventory is just about “normal” for a “normal” year – admitting that there is no such thing but I am drawing on my 15 years Meadows experience.

There are offsetting problems. Some of the homes listed as “Active” should be listed as “Contingent” – a new category that tells us that there are active offers awaiting the LENGTHY bank review. That would mean there are actually fewer homes available than are shown as active.

But, there is also the “shadow inventory” – homes that have been withdrawn from the MLS but are actually for sale.

In each neighborhood, there are different ratios. Since Hidden Meadows does not have a lot of short-sales, our shadow inventory is the higher number. Neighborhoods with lower average sales prices have different characteristics.

But the inventory numbers themselves show a REALLY low inventory. Everywhere.