Unfortunatly our real estate market reality is pretty dull. More of the same market trends we've seen over the last many months: high inventory,lower sales and falling prices. Inventory has roared to 21,002 listings(+72% YOY) and sales continue to be well off from last year but an improvment MOM at 1619( -45% YOY). The MOI (months of inventory)has also stayed very high at 13 months compared with 4.4 months last Sept.
Do you think that the stock market bloodbath will have any affect on our local real estate? Will investors sell in fear of a global recession? Or perhaps put money back into tangible assets like real estate?
All sub area inventory charts here: INVENTORY