Michelle Kim | September 27, 2024
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). Over the past two years, single-family home MSI has varied between a sellers’ market and a balanced market, while condo MSI has varied between a balanced market and a buyers’ market. Since May 2024, MSI has declined significantly. Currently, MSI indicates that the single-family home market favors sellers, and the condo market is balanced.
Stay up to date on the latest real estate trends.
Michelle Kim | September 27, 2024
Quick Take: The median single-family home price fell 7.8% month over month, while condo prices declined 6.7%. We expect price contraction for the rest of the year, whi… Read more
Michelle Kim | September 27, 2024
Quick Take: The median single-family home price fell 2.2% month over month, while condo prices declined 11.2%. We expect price contraction for the rest of the year, wh… Read more
Michelle Kim | September 26, 2024
Quick Take: The median single-family home price fell 11.4% month over month, while condo prices declined 0.2%. We expect price contraction for the rest of the year, wh… Read more
Michelle Kim | September 26, 2024
Quick Take: The median single-family home price fell 4.9% month over month, while condo prices declined 20.9%. We expect price contraction for the rest of the year, wh… Read more
Michelle Kim | September 26, 2024
Quick Take: Nationally, the monthly cost of financing a median-priced home was 8.3% lower in August 2024 than in June because the median home price declined 2.1% over … Read more
September 24, 2024
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