IBJ,
While its too early to say what will happen this Spring Selling SEason re: inventory, in past years it started climbing faster and earlier than it has this year. What comes next is anyone’s guess.
Thebreeze,
My interpretation is that the opportunistic sellers have left the building and are resigned to staying put as you surmised. I also think the desparate sellers are just starting to hit the market. I have seen sevaral houses go into escrow this year after relisting at the same price they didnt sell in the Fall. I have heard of some sellers of homes they have owned for many years reducing their homes to prices they said they never would go to. Demand is definitely starting to pick up a little but how much and at what price is still undetermined. One interesting thing I am hearing quite a bit of whispers about is mortgage fraud. It may be that mortgage fraud causes as many or more foreclosures than overencumbered homeowners.
