With much respect for our resident agents here, I tend to look at L.A-Y comments with a jaundiced eye. The conspiracy theorist in me sees ulterior motives in the shadows of these comments.
They’re probably thinking they can manipulate the market psychology a little better by reducing the ratio of listings to sales. Having 11 months of inventory on tap contributes to the mass awareness that prices must fall. Reduce that overhang to only 6 months and its easier for the bulls to argue that now is a great time to buy and you’d better hurry up before the market takes off again.
