Housing inventory in Santa Clara county is still low in January. I pulled data of housing inventory changes for Palo Alto, Los Altos, Cupertino, Mountain View, Sunnyvale, Santa Clara and Milpitas.
The first chart is for Palo Alto, Los Altos, Cupertino and Mountain View. Inventory reached peak level in mid 2009 for Palo Alto, Los Altos and Mountain View and was at high level for Cupertino from mid 2009 to Oct 2009 and keep dropping since then.
Now the inventory level for all these four cities are at year-low level and at the current speed of buying activities, you are likely to see continuous low level of inventory in these markets.
Chart1: Housing Inventory for Palo Alto, Los Altos, Cupertino and Mountain View
Same trend persists in Sunnyvale, Santa Clara and even Milpitas. Chart 2 shows you the inventory level in these three cities.
Chart 2: Housing Inventory for Sunnyvale, Santa Clara and Milpitas
