The number of active listings in California topped 64,900 in April, a post-pandemic high and beating the April 2020 level, according to the Realtor.com® economic research team's monthly housing trends report. In California the number of active listings was up 50% in April from a year earlier, compared to a 31% rise nationally. Inventory is up but the bigger issue is that sales are down to levels below those of the Great Recession according to a recent article on Realtor.com.
We are seeing it in San Diego too. In La Mesa's 91941 in April 2025 we saw 25 closed properties compared to April of 2022 when we had 36. This tiny subsample is showing up consistently throughout the area. If inventory keeps going up and mortgage rates stay the same we could see a drop in prices. ATTOM, a curator of data related to real estate and land just released a report highlighting housing markets that may be at risk of decline. There were 14 markets in California - Butte County (Chico), Contra Costa County (outside Oakland), El Dorado County (outside Sacramento), Humboldt County (Eureka), Shasta County (Redding) and Solano County (outside Sacramento) in the northern part of the state, plus Fresno County, Kern County (Bakersfield), Kings County (outside Fresno), Madera County (outside Fresno), San Joaquin County (Stockton) and Stanislas County (Modesto) in central California. Two others, Riverside and San Bernardino counties, were in southern California.
