Months of Supply Inventory (MSI) quantifies the supply/demand relationship by measuring how many months it would take for all current homes listed on the market to sell at the current rate of sales. The long-term average MSI is around three months in California, which indicates a balanced market. An MSI lower than three indicates that there are more buyers than sellers on the market (meaning it’s a sellers’ market), while a higher MSI indicates there are more sellers than buyers (meaning it’s a buyers’ market). The Silicon Valley market tends to favor sellers, which is reflected in its low MSI. MSI trended higher in the second half of 2023, but never climbed above three months of supply. From January to April 2024, single-family home and condo MSI fell significantly, indicating the housing market strongly favors sellers.
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Michelle Kim | July 26, 2024
Quick Take: The median single-family home price in Santa Cruz reached a record high in June. As more new listings come to market, we expect prices to continue rising a… Read more
Michelle Kim | July 26, 2024
Quick Take: Median home prices are slightly below peak levels across the North Bay. As more new listings come to market, we expect prices across most of the North Bay … Read more
Michelle Kim | July 26, 2024
Quick Take: Median single-family home and condo prices rose meaningfully in the first half of 2024, up 14.0% and 7.2%, respectively. Year-over-year prices also appreci… Read more
Michelle Kim | July 25, 2024
Quick Take: Median home prices are slightly below peak levels across the East Bay. We expect prices across most of the East Bay to continue rising in July, though they… Read more
Michelle Kim | July 25, 2024
Quick Take: The median single-family home price in Santa Cruz reached a record high in June. Although sales are slowing, prices could still rise in July to new peaks. … Read more
Michelle Kim | July 25, 2024
Quick Take: Since January 2024, prices have climbed 13.6%, reaching an all-time high in May and another in June 2024. Similarly, the monthly cost of financing has hit … Read more
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