Now that we're out of the summer and into October, I did some quick data checks on key market indicators for the US housing market this morning. The short term positives signs are that inventory is tightening, days-on-market is stabilizing, and fewer sellers are relisting their properties. The short term negative is that ask prices are clearly falling and new sellers entering the market are doing so at lower prices this Fall.
1. Inventory levels continue to fall. Still awaiting the slew of REOs that are expected to hit the market (if you believe that banks will releases these all at once...)
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