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I've been looking at data on movoto.com, looking at their inventory snapshot. For the past few months, you can see Housing inventory (SF) has increased very sl
by pascalxus 6y ago
I've been looking at data on movoto.com, looking at their inventory snapshot. For the past few months, you can see Housing inventory (SF) has increased very slightly and when you take into account the seasonality (inventory usually increases a little up until sept), it doesn't look unusual at all. There's NO unusually large increase in inventory. It's just super super low inventory, the same as it has been for the last 5 years, with no major difference in the last 3 months of covid-19.
In absolute terms, it's pretty crazy that there's only 252 houses in inventory, in a city of almost 900,000.
- jhart99 6y agoIf they are wealthy enough, there is no reason to sell.