NAR reported today that the inventory of single-family unsold homes is up to a 9.2 month supply. I'm sure you'll all agree that the "mortgage meltdown" certainly isn't helping matters. The last time we saw inventory this high was back in October of 1991. For all types of properties (single family, condos, etc) the average is up to a 9.6 month supply but NAR has only been tracking those stats since its last high in '99.
What's going on in your neck of the woods?
Keller Williams Realty of Newport
809 Aquidneck Avenue
Middletown, RI 02842