[quote=SD Realtor]Actually 1stime I see some inventory starting to accumulate. I had posted about it a few weeks ago. IMO there was a pethora of sellers who listed in the past few months with the same delusional pricing goals that we were seeing in the bubble. Pricing well above comps, and well above what an honest appraisal would come in at. Now I am seeing the beginnings of inventory accumulation because those homes did not sell.
Note I am not saying the inventory is good or great, but there are more homes on the market in the zip codes you mentioned then there were last year at this time. Now they are not necessarly priced better then last year. Also yes the good stuff is still going off the shelf quickly.
Hang in there and lets see how things look in July and August.[/quote]
We’re seeing what you’re seeing, SDR.
Of course, there are overly-optimistic sellers/wishful thinkers, but there is an undercurrent of more and better inventory coming on the market with fewer qualified buyers (and no tax credit — yay!!!). IMHO, the higher end (over $1MM) is getting saturated, and the only way for them to get out is to lower their prices. I believe this will steamroll everything below it. The only question is when.
