While the supply of for sale homes still lags pre-pandemic totals, signals point to an increased inventory nationally that would lead toward a more balanced market. The count of active listings spiked 26.2% annually in November to the highest level since December 2019, according to Realtor.com. Locally the picture is not exactly the same according to the Real Report (a very well done local newsletter.)
In San Diego, inventory continued its usual seasonal decline, but the pace of decline is definitely faster than this time last year.
|
(Source - SDAR and Mortgage News Daily Data)

Much of this is being driven by expired listings which are expiring twice as fast as last year's pace. So while we are way up over 2020, inventory is trending down over earlier this year. Something to note as we move into 2025 when inventory should pick up in the first quarter.
San Diego Union School District Considers Additional Employee Housing