The Costa Mesa Housing Index Says…
The Altos Market Action Index shows the balance between potential buyers and sellers, in other words, the balance between supply and demand. Above 30 is a sellers’ market; below 30 is a buyers’ market.
Note that the Altos numbers are for detached homes only (condos are not included). Costa Mesa has approximately two and a half detached homes on the market for every condo.
Following are the Altos Market Action Index numbers for Costa Mesa. According to these numbers, the Costa Mesa housing market is improving. However, I should note that these numbers also show that the Costa Mesa housing market is still firmly in the buyers’ favor.
And here is another side note: For the first time since I have been following these numbers, the index shows that the housing market in Costa Mesa is healthier than the housing market in Irvine. I will post the Irvine numbers later this week.
Altos Market Action Index for Costa Mesa, CA:
- May 17, 2009: 16.29
- March 20, 2009: 15.04
- February 22, 2009: 15.43
- January 30, 2009: 15.71
- December 31, 2000: 17.96
- November 30, 2009: 18.46
- October 26, 2008: 18.45
Source: Altos Research