Here comes the inventory!
The February numbers from the Southland Regional Association of Realtors® show that inventory increased 37% from a year ago. At the end of February there were 1,419 homes on the market in the San Fernando Valley as compared with 1,033 a year earlier.
TREND: Inventory has been low and home prices have sat on the upper end of range. With little room for quick-flip profit, all-cash developer purchases have cooled, allowing more opportunity for traditional buyers previously forced off-market.
SUMMARY: Inventory is growing and buyers are coming back to pasture. Get ready for an active spring!