We are beginning to see many more changes in our market in the last few months. About 1/2 the houses are being sold each month as compared to the same time last year. About twice the number of houses are on the market. SO it is definely a buyers market with an inventory approaching 8 to 9 months.
Short sales have really picked up in town as well as foreclosures becoming more prevalent.
I'd say we are defintely in the downard spiral. Although everytown around has its own market issues. Sometimes up and sometimes down. Not all the same. West Hartford continues to hold its own. Our median prices are down about 10-11%. Other towns more, especially the big cities.
What's happening in your town?????