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 July 28, 2007

Available Inventory Flattens, yet Buyers continue to Take Their Time
The amount of unsold homes is flattening in several markets, even declining in Boston and Denver. Information from a quarterly Wall Street Journal survey.
This information does not yet mean that homes are flying off of the market. Buyers continue to take their time and when the do make an offer to buy; they are negotiating hard; requiring sellers to remain flexible with their asking price.

Mark Zandi, Chief economist with Moody's Economy.com predicts that it will not be until 2010 that housing market activity returns to a normal state.

The S7P/Case-Shiller national index measures housing prices and predicts that fourth quarter prices for this year will be 7% down from 2006. A further drop of approximately 3.5% is seen in 2008.

Current subprime lending issues are making it more difficult for first time buyers to enter into the market.

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