Single Family Market
The Absorption Rate above shows that the inventory in Santa Clara County as a whole, is increasing. As we are hitting the summer months, the inventory for sale is increasing as expected. Kids will be out of school soon, so people are putting their homes on the market and will do so throughout the summer season; the momentum will typically carry into September.
What is a bit different is that the number of homes going into contract is not keeping pace with what was happening the same time the previous year. The comparison of the two sets of charts show that the sales related activity has been pretty flat for the past 15 months.
Continued.....
Steve Mun, Silicon Valley Realtor
http://www.stevemun.com/
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