[quote]CV inventory is hitting 300 these days, and I swear that I can almost feel the tension between the buyers and sellers as they are in a stairing contest. I don’t see price reduction very often and the houses are staying on the market for a lot longer than 3 months ago.
However, with jumbo rate at 7-8%, it is hard to imagine that sellers will win the contest.[/quote]

Is that attached or detached? I know the attached market is trashed and has been trashed for some good time now.BUT, I was more interested in detached. Actually, this was sort of tongue and cheek. Because I think i sort of get a feel for where things stand in CV right now…There were a bunch a Pardee cheerleaders touting how “well” specifically Pardee communities in CV are holding up a few weeks/months ago, and while I did notice a few resales closing, it seems like some of the new inventory isn’t moving….I’m sort of curious where they all went and what the current assessment of the market looks like. 🙂

I do notice that there are more homes priced “better” and those are the ones that move, a few being a couple in my community. But like you said, there does seem to be a staring contest going on.