Agree with the wait statement. (MLS) Inventory alone is not a good indicator. You’ll want to take into account months of inventory, as well as what could be skewing the MLS inventory downward, the “shadow” inventory. Not to be tin-foil hat, but my daily tracking of foreclosures listed on foreclosure.com shows that ~7,000 foreclosures in SD, or roughly 30% of the MLS inventory.
With 63% (source: some article on Piggington.com) of sales last month being short-sales or REO… yeah, talk to us in October.
