In my area of SEH in San Marcos two of the three new home builders are closing up their final sales. With the $10,000 new home tax credit, $8,000 tax credit and incentives people jumped like crazy and they cleared them out. This has decreased inventory.
The remaining home builder is building out a few homes at a time creating demand.
Everything around $450,000-$550,000 is sold in a few days and the only homes left are the overpriced.
The banks seem to be putting out 1 foreclosure a week. I am hoping TG is right and that we start getting more bank owned properties on the market by fall/winter.
