The above graph exemplifies that inventory levels are falling at a moderate but consistent pace. Last years decline in housing inventory was similar. Housing inventory fell from 400 residential listings in the beginning of 2011 to 255 at the end 2011. That’s a yearly decline of 36.25%. So far in 2012, inventory has already shrunken by 29.8%.
This appears to be caused by a spike in sales this year compared with last year. Ventura has consistently sold over 100 properties per month for the last 4 months, compared with only once in 2011.
The real estate market continues to be heading in an overall positive direction. There continues to be no indicator of an imminent shadow inventory and the real estate cycle appears to be holding true.