While it’s safe to expect prices to continue creeping down, it is not safe to expect inventory to keep increasing. By mid-September many of the people testing the market will recognize that their experiment has failed and will take their homes off the market. I have no idea how many this will be but I wouldnt fall out of my chair if inventory fell 20 to 30% for this reason.
Will it happen? Only time will tell. But don’t be shocked if it does.
