Pressure on pricing: Contra Costa

The difference between the daily supply of new listings (green curve) and the number of pending sales listings (red curve) continues to widen. Looking at the chart above, it appears that the demand (daily pending sales) hasn't faltered much; the red curve has managed to hover around 120 units for months now. The problem is the huge influx of new listings, which puts a lot of pressure on the pricing. By all means, the real trouble begins if/when the demand starts to decline.