Some random stats
- SFH and Condo average and median prices for January were up from December.
- Inventory at end of month January was double what it was in January 07
- Sales are down, although they did pick up towards the end of the month
The thing that interests me, is if everyone "tradtionally" waits until spring to list there place, what is that going to do the already high inventory levels? I've also heard that there are several large condo projects that will be completed and coming on the market soon, so there is more inventory there.
IMO, there is way more room for house prices to go down then there is for them to go up. I've been watching the market closely for a month, and I think the next few months are going to be interesting. I have no idea what things are going to look like come spring, but I suspect a year from now, prices will look very different.
Just my thoughts...
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