I don’t know enough historical info to know if these are good numbers or not. I did check get these numbers from http://bubbletracking.blogspot.com/index.html that were produced by Jim the Realtor:
January 1 through February 28
Year__Total Listings__ # sold/pending by 2/28___%
2004_____5,030_____________3,070__________61%
2005_____5,392_____________2,016__________37%
2006_____7,950_____________1,442__________18%
2007_____7,588_____________1,074__________14%
Although listings are down by 5%, sales are down by 34%. This tells me that there is a high supply and low demand, which should translate into continued downward pressure on prices. Would this be a fair assessment?
