Current market conditions 4/21/06.

Houses are not selling, inventory is rising, but there haven't been many price reductions.

Market Update.

I continue to watch my local market. It seems that there has been some change in "tone" between buyers and sellers. I think that both buyers and sellers are "nervous". A lot of houses that went under contract were booted back. I don't recall that happening in recent years. Though the demand is still palpable, it's not a deluge. Sellers have not capitulated to buyers, but some price reductions are more common. This is a market in transition. As inventory is increasing, along with interest rates, adjustments will have to be made. Although there still has been no "event" to "pop the bubble", perhaps some psychology is changing. Will continue to watch.