Over the last 15 months inventory is up only 1.4% with sales down 16.7% and pending sales off at-30% over the past. Our remaining unsold inventory at this pace would take 14.4 months to absorb, the highest since this time last year. Home prices seem to be almost finding some stability with ranges from $100-165 per square foot and last month's average at $147. The market is still being driven by 1st time home buyers, though now the Federal tax credit has expired. Interest rates under 5% are spurring others to consider purchases. All buyers are looking at value and condition and sellers must still compete with short sales and bank repos. Realistic pricing is seeing sales times in 85 to 150 days.
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