Friday, April 21, 2006

Current market conditions 4/21/06.

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

3 Comments:

Blogger bairen said...

Perhaps people are coming to their senses? Or maybe starter homes are too pricey so the trading up chain can no longer continue?

5:02 AM  
Blogger Spindrift said...

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5:56 AM  
Blogger njdoc said...

Bairen,

I don't believe people have come to their senses yet. There is perhaps some mild fear in the back of some people's minds, coupled with higher short term interest rates on top of very high prices. This bubble, in my opinion, will take a long time to unwind. But, this spike in inventory is obviously the first sign of trouble.

10:51 AM  

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