Newport Beach, CA
Let’s take a look at this last December’s active inventory in Newport Beach. If you look at the chart below you will see that I have circled the numbers from both 2008 and 2012. In 2008 the number of homes on the market for sale in our area in the month of December was 1071, that is a little over 3 1/2 times the amount of inventory we had at our lowest point of 290 homes in March of 2004. Now this last month of 2012 has seen inventory levels drop to 428 homes. This is a good sign for our sellers as we have seen a large amounts of our massive inventory clear this last year. What does it mean 2013? That remains to be seen, but we can project that the real estate market in our area has taken a large turn toward correcting itself as our inventory continues to drop to levels last seen in 2003. For more information contact me at (949) 433-8989
