Corona Del Mar and Newport Coast Real Estate

We all know the See - Saw reaction of this principle. As an item becomes more desirable or less available, the price goes up. When there is less demand, or there is a large availablity of that item, prices go down. Real Estate inventories are on a downward slope. The over inflated inventory is working its way back down, and the really good deals are even harder to find. One thing that is always true about Real Estate, is that it is always in demand, everyone needs a home. Here is a brief report on inventories as reported on ZipRealty:

Inventories of homes for sale declined or were essentially flat from July to August in all 25 markets tracked by real estate brokerage ZipRealty, with 19 markets seeing double-digit declines from a year ago.

Inventories shrank by an average of 2.7 percent from July to August, with declines in 21 markets and little or no change in four others, ZipRealty said, according to multiple listing service data.

Not a huge reduction from Month to Month, but we are down significantly from earlier this year and last year. Inventory levels in Corona Del Mar and Newport Coast seem to slightly down, see my quarterly reports for details.