Don't get too excited. It's foreclosure sales that are driving the results.
But is it possible that inventory levels are peaking? Please say it's so...
Existing Home Sales 03-23-2009
EWM International Realtors, Inc. - Fort Lauderdale, FL
Real Estate Advisor
Spencer...yeah, let's say it's so....the foreclosure deals are amazing in south Florida...!
Mar 23, 2009 04:50 AM
Mike Russell Real Estate Group - Overland Park, KS
Overland Park Kansas Real Estate
inventory is the key, will it explode this spring? if we can chip away at this we will be ok.
Mar 23, 2009 05:18 AM
Coldwell Banker Realty - Columbia, MD
Creating Generational Wealth Through Homeownership
Foreclosure or no, it's still a sale and every sale takes one more property out of inventory and helps move the market along. I say, a sale is a sale where it comes from really doesn't matter.
Mar 23, 2009 06:15 AM
Zillow - Seattle, WA
Great point June.
Inventory is the key. My big concern is what I call "shadow inventory" -- the idea that there are probably a lot of houses sitting on the sidelines waiting to come on the market as soon as the homeowner senses an improved climate. That might create another flood of inventory which will soak up demand. Let's hope I'm wrong.
Mar 23, 2009 06:19 AM
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.
Spencer: We're all looking for that magic pill. Although activity has increased I agree with you. I expect inventory to remain high, especially in our area. Recovery may start next year. At that point, we'll be ready for it! Take care.
Mar 23, 2009 06:48 AM
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