On the whole, Glendale had a good month in June. Prices were up but volume was down. Glendale is experiencing the same thing as other desirable Southern California markets; inventory shortages. As inventory shrunk, more buyers competed for less supply. Simple economic theory suggests that as this happens, prices move up. That is what has happened in Glendale. If inventory stays thin, look for these stats to continue in this direction. However, we need to be cognizant of the distressed inventory yet to be worked out by the bank. If this product floods back into the market, the supply-demand curves will shift and prices could go down.
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