After months of declines in the number of homes for sale in the Stockton Ca, the housing market is showing signs of heading back to normalcy. From July 2015 - May 2016, the number of homes for sale in Stockton declined each and every month. In July 2015, there were 682 homes for sale in Stockton. That number fell to just 422 homes for sale in May of 2016. Over the past two months, as you can see from the chart below, the number of homes for sale in Stockton has increase from 422 to 543.
The decline in the number of homes for sale in Stockton has caused upward pressure on home prices(see chart below). With the recent increase in home prices over the last 2 years, many people who were not able to sell or have been waiting for this increase have now chosen to do so.
As you can see the median price in Stockton in July 2014, was right around $200,000. As of July 2016, the median home price in Stockton is $250,000. That's a 25% increase!
Even with the recent increase in the housing inventory levels, the number of homes for sale would just last 1.7 months. We are still in a sellers market! In a "normal" market, housing levels should be around the 3-6 months of inventory.
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