Supply of Bay Area Homes for Sale Rises as Spring Nears

Supply of Bay Area Homes

The supply of Bay Area homes for sale improved in January from the previous month, an early sign of the spring buying season ahead.

In January, the available supply of existing, single-family, detached homes for sale in the nine-county Bay Area rose to 2.8 months, up from December’s unsold inventory of 1.6 months’ supply but still trailing the 3.1 months’ supply in January 2013, according to data from the California Association of Realtors.

Months’ supply of inventory indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  According to CAR, a six- to seven-month supply is considered typical in a balanced market, but numbers in many parts of the Bay Area have been far below that level for several years — that is to say skewed in favor of sellers — as the housing recovery takes hold.

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