Third - Where is the real estate market headed and when is it going there?

I noticed that at the end of December and beginning of January there were a great many listings expiring in our board.  Seems that is typical each year, BUT it is now January 7th and the number of listings is down 7%.  Maybe the sellers with dreams of high prices and big profits have decided to give up.  If we could get the number down another 7%, we would begin to see a more balanced market.  I hope agents will be responsible and refuse to list property at prices far above their market value.

The subprime mortgage market will just have to work itself out.  The lenders who sold subprimes will just have to adjust to the new reality.  There are mortgages available for those who can minimally qualify.

In the next 10 days we will have the 4th quarter GDP report.  If it is better than economists have forecasted, the recovery will have begun, and the real estate market will improve beginning during the 2nd quarter.  Personally, I believe the GDP will be up significantly.

Does anybody want to agree, disagree, or otherwise comment?