Perhaps I was abit pissy this morning and I apologize but we really need to look for changes not just what we continue to see. The chart is useful because it gives us something to objectively watch over the next couple months. It’s nice to agree with Rich’s theory but that is not what we are here for. We are here to learn and to stay ahead of the curve.
The excess inventory puts pressure on prices. If alot of the inventory vanishes so will some of the downward pressure on prices. Personally I hope it stays high because it will help me to negotiate for my buyers that will be purchasing in late Fall. I recently had a client purchase a home in the mid $1M’s against comps close to $2M. High inventory makes my job easier when representing buyers.
