Orange County Inventory

[socalhousingbubble_IHB]

872 units over last year's peak, about two months ahead of last year's peak.

http://bubbletracking.blogspot.com/2007/01/tracking-orange-county.html

This game of maintaining median price on lower and lower volumes is on track to implode. We will finally see real downward price movement in Orange County in Q3 & Q4 of this year when the capitulation begins.

SCHB

 

[mediaboyz_IHB]

From 12,600 to 18,630 homes for sale on the market, I agree something has to give.

The only ones being smart are the builders of new properties, who are cutting their prices ahead of the rest of the herd.