The pace of home buying, which usually declines in the winter, is picking up early in San Diego, with only 38 days inventory in February — among the lowest in the country.
That was the finding of Realtor.com in its monthly real-estate market “hotness” index. San Diego ranked as the sixth hottest market overall. San Francisco was first and San Jose/Silicon Valley second.
Markets in California dominated the list, with eight of the top 10, but Florida, Texas and Colorado each had multiple hot markets.
“Early readings on February inventory and activity indicate that the spring home buying season has begun. We don’t usually see this type of acceleration until March or April,” said Jonathan Smoke, chief economist of Realtor.com.
While San Diego had only 38 days of inventory, the national average was nearly three times that at 96 days. In San Jose/Silicon Valley, the inventory was only 19 days.
Realtor.com is the official website of the National Association of Realtors.