Irvine inventory up 88 percent from March. Americans back to non-saving ways.
frpm Dr Housing Bubble:
Nationwide the amount of homes available for sale is increasing spurred on by rising home prices and the healthy rise in home values. Yet many areas in California were still in a severe drought when it came to the amount of inventory available for sale. The rise in inventory started late last year nationwide but we are now seeing it in certain areas in California. Even in sought after areas like Irvine the amount of inventory has picked up. At a certain point the market will return and the current mania is making some reluctant sellers come out of the woodwork to offer their goods to the highest bidder. Home prices in areas like Irvine have gone up significantly and many are now being enticed to sell. At the same time, Americans are back to their non-saving ways so the current market seems uniquely familiar. Let us take a look at some of the inventory coming back into the market.
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