How’s the Huntington Beach Market?

Days of Supply* is the best overall indicator of the strength/weakness of the real estate market. And, wow, what a rollercoaster we have been on. From late 2020 until the 1st Quarter of 2022, the Days of Supply reached as little as 20 days and was usually under 40 days… this was the strongest “seller’s market” on record. But, as mortgage rates spiked in mid-2022, the Days of Supply reached a peak of 97 days in October 2022. In 2023, a “record low” number of new listings has resulted in the Days of Supply falling into the 40s again. On July 24, 2023 the reading was 45 days. Surprisingly, we are right back to a strong seller’s market despite the higher mortgage rates.

*Days of Supply is defined as the number of days required to sell all the homes currently on the market at the present rate of home sales.