Why is there no spike in inventory during this Spring “buying season”?????
I take this as capitulation of the “want to sell” inventory.
These people still had hope in late 2006 and put their homes on the market in Spring 2007 to make want they wanted to so they could move up or move out or break even or get out from behind resets. Now, with prices down people know they won’t be able to sell easily. So, folks are simply holding on.
