Inventory drop creates demand for homes

With a strong reduction in the number of homes for sale in Fallbrook this year compared to the last five years, a local expert says it is now a seller’s market for homes priced under $750,000.

“It is a most interesting situation right now,” said Chris Hasvold, owner/partner of Coldwell Banker Landmark Group.

Hasvold said the basic law of supply and demand has led to the shift in the market.

“In real estate, it is determined by what is known as ‘absorption rates’,” he explained. “Absorption rates are best explained like this - only so many houses are going to sell over a certain time – it...