Newport Beach (April 25th, 2014)
Even though the days-on-market is trending higher, so is the Market Action Index, providing a neutral outlook for the market.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Prices appear to be hovering around their high point. Look for a persistent downward shift in the Market Action Index before we see prices deviate from these levels.