Home Sales, Listings Stats Show Turning in Market
by M. Anthony Carr
Realty Times
You’ve heard the phrase, “The devil’s in the details,” and that is ever so true in the statistical analysis of real estate. Real estate definitely moves on the level of supply and demand. The more houses on the market coupled with the less demand interprets into dropping prices. As houses sell (because the prices finally realign) and the inventory shrinks coupled with growing demand, prices start edging up.
In the market overall listings are down — some because they sold and others because they were withdrawn and still others because the sellers were distressed and went into bankruptcy or short sales. However, the effect on the overall market will be the same, shrinking inventory means buyers won’t have as much leverage as they did just a few months ago.
Click here to read the entire story.