deadzone
Just looking at that graph can be very deceiving. The exponential increase is more due to mix of the current active inventory than skyrocketing asking prices. The inventory is now more skewed toward overpriced properties that havent sold (if it was priced right it would have sold already) and ultra high end properties (i.e multi million dollar homes in RSF, LJ< CORNADO) that often sit on the market for months if not years before selling. Sellers arent crazy thinking its 2004 again, they are just trying to squeeeze another 5 to 10% that isnt there.
