A report from SCV News in California. "The number of active listings of homes and condominiums for sale in the Santa Clarita Valley rose in October 2018 for the fifth consecutive month while sales slowed and resale prices continued to move higher, the Southland Regional Association of Realtors reported Monday. 'To have five consecutive months post increases in supply suggests owners believe prices may have peaked and now is a good time to sell,' said M. Dean Vincent, chairman of SRAR’s Santa Clarita Division."

"There were 655 active listings at the end of the month, an increase of 36.5 percent over a year ago. From January 2015 through May of this year the inventory had posted declines, with the only one exception."

"'Demand for housing remains high, but any increase in inventory will ease upward pressure on prices,' he said. 'That’s especially important today because prices have risen high enough that the pool of people who can afford to buy is shrinking,' Vincent said. 'Sellers will have to be aware of the shifting market dynamics even as they seek the best price possible for their property.'"

"'Buyers certainly gain a bit more leverage as the inventory grows,' said Tim Johnston, the Association’s chief executive officer. 'Yet it remains a sellers’ market even as buyers have more choices and can argue for concessions or price reductions.'"

"The median price of single-family homes that changed owners last month came in at $595,000, up 2.6 percent from a year ago. The monthly median has posted higher than the prior year virtually every month since prices hit bottom at $340,000 in November and December 2011."