Housing inventory has decreased. In many of the sub-divisions where I sell homes, the number of available homes is significantly lower than is was 2 months ago. This is due to 1.) increased sales in the last month or so and 2.) sellers taking homes that didn't sell off the market.
Whatever the reason, the market seems to be correcting (as normally happens in a free market). Now the question is - are we approaching a balanced real estate market, or even a sellers market again, or will a slug of new listings in the spring push us back to a weak (or buyers') market?
Stay tuned...
