I am kind of agnostic on the whole thing. I still believe the normal trend of seasonal activity will overshadow the activity by the Feds and the perception issue. I look for inventory to stay somewhat flat and slowly decrease over the next 3 months. We may get a little bump in the next few weeks as summer procrastinators rush to put homes on the market but I see alot of giving up to follow. I then expect the inventory to pick up again in the spring. I also believe we will see the usual higher level of sales in the spring… whether those sales fall below spring 07 numbers will be interesting to see…
Anyways I guess my answer to you is no I don’t see it. The caviot is that the homebuilders are really pushing to get rid of their inventory but I am assuming that is not the phantom inventory you are referring to.
