Supply and demand out of balance, except at the beach
Summer officially starts next week, so let's take another look at how housing inventory is developing around the South Bay.
I provided the first snapshots of current inventory of single-family homes in February, right after the Super Bowl, and at the end of March. You normally expect a pretty steady upswing in both listing and sales activity in spring. One question is how balanced the number of new offerings is against the number of purchases.
Every market now offers more inventory than in early February, but one - Hermosa Beach - actually has fewer listings than in late March. Two of the most solid market regions, Torrance and the Palos Verdes Peninsula, are getting out of balance. Let's take a…