I am not ready to make a final call on the market just yet. I am just reporting the stats as I see them without emotion. It is a trivial task to pick out sellers taking a bath on homes.
However please explain to me why the active/pending ratios are so much higher now then they have been in a long time for several zip codes. Note that I am not saying the number of sales are up, nor am I saying the median sales price is up. I am saying that inventory growth is slower, and the number of pendings are higher. Let’s see how the spring goes. My prediction is that 2007 will prove to be close to 2006, maybe a bit better, maybe a bit worse. It will depend on the zip code and the housing type. However it will not be as bad as 2006 was compared to 2005. I will put up 10 bones for that bet.
