[quote=sdrealtor][quote=sdduuuude][quote=sdrealtor]Look at that inventory line dropping since last Summer.[/quote]
Yes – shrinking inventory for 12 months and since that time, prices are lower.[/quote]
Of course prices are lower. Thats what happens when distressed inventory gets cleared from the market. Whats out there since last Summer is sellers with no incentive to push for higher prices but rather incentives to get them closed this year to take advantage of mortgage debt foregiveness act. They are gone for the most part. Now what?[/quote]
Conditions are all very positive for housing, and distressed inventory has been lower lately than for most of the past ~4-5 years, but prices are staying fairly flat/rising slightly. The fact that the “spring selling season,” record low interest rates, and near record low inventory have all happened at the same time without prices rising more substantially is a bearish sign, IMHO.
