It's already March --- the time of year when we usually have much of the year's inventory already on the market. That hasn't happened, and what IS on the market has been on for many months, and is still overpriced. My buyers are seriously frustrated, and wondering if anything is going to change, over the coming months. I fear we're going to continue to see lower than usualy inventory which might just be good news for sellers. I'm seeing homes selling for more than I would have expected just because buyers are so anxious to buy. I'm also seeing some buyers considering renting until they have more to choose from --- particularly older buyers who are downsizing. Inventory in towns like Franklin Lakes, Wyckoff, Allendale, Glen Rock, Ridgewood and HoHoKus is particularly surprising. These are towns that we'd be expecting brisk sales from, but we can't sell what's not available.
I'd be interested in hearing how things are in other areas of the country.
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