LA JOLLA, CA Market Report for the Week of February 11, 2013
The Market Action Index has been climbing lately while days-on market are trending down, these point to a positive near-term outlook for the market.
Supply and Demand
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.