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Tuesday, February 26, 2019

San Fernando Valley’s housing market used to be hotter than heck. But buyers are getting a chance as things cool off – Daily News

San Fernando Valley’s housing market used to be hotter than heck. But buyers are getting a chance as things cool off – Daily News: If neighborhoods were showrooms and homes were the product on the showroom floor, get ready: In 2019, the shelves are expected to be well-stocked in the San Fernando Valley.

New numbers out from the Southland Regional Association of Realtors show a 3.3-month supply of homes out on the market for sale. Put another way, the 1,304 active listings (homes and condos for sale) in the Valley market in January was a 42 percent increase than a year ago. The last time the inventory of homes was that high in the San Fernando Valley was 2015, when Barack Obama was president and critics were saying Donald Trump didn’t have a chance to win the presidency.
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The lesson: Things change.