The last time I looked at inventory levels in LoCo was on May 4th, right after the first time homebuyer tax credit ended, and found the HUGE jump in homes available for sale. Looking at what has happened since then, it appears to have leveled off a bit (and absorbed a tiny amount of the condo/townhome inventory). Anyone that tells you they know for certain what will happen with our real estate market now, without the tax credit driving demand, is nuts. I’m in a holding pattern, watching the statistics to see what happens. For right now, I’m holding my breath.
(as usual, keep in mind that the condo line includes townhomes, too!)