The wonders of upgrading technology
November 15, 2006
I suspect there are very bright minds working on ways to get back in. What a waste of talent!
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I wouldn't claim prices are rising at all. I see a number of new reductions today before the weekend. As for inventory, it is falling because of withdrawals not sales which isn't a sign of a very healthy market. The number of rentals listed in the MLS is way up in the area compared to last year. I think there is a lot of pent up inventory waiting for the market to bounce back which could take longer than they can stay solvent if they have 2 mortgages.
Check out MLS #: LO6238303 listed for 189k (more than 25%) below the sale price from earlier this year. I don't know the circumstances but someone took a bath on that one.
made the following comment on November 16, 2006 7:41 AM
Alby, Inventory coming down is, in part, seasonal. Jury is out where prices are going. Buyers are still hard to find. Average sold in a month hasn't budged much. We will keep watching.
The market is working... Inventory is dropping like a rock and prices are rising. Supply and Demand does work. The million dollar question is, how many of these homes dropping off the market for the season will return in the spring of 2007?
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