Alls you gotta do is watch the ratio of inventory to sales. When the number of listings gets down below 6 months worth of sales then we’ll start to see some price stabilization – not before.
My post was (partly) tongue-in-cheek. I will start to pay more attention to the numbers when the general consensus in the press is that RE sucks forever.
I agree that months of inventory is a good measure. But, 6 months inventory seems fairly robust. Wouldn’t there be significant positive momentum going from 12-13 months to 6 months ? I always though about 8-10 months inventory was the crossover between a buyers’/sellers’ market.
