I’m glad that I’m not the only one out there telling the world that the market can turn around.
The New York Times just published an article in today’s paper titled, Slowing Is Seen in Housing Prices in Hot Markets that highlights some changes in markets like NY (down 13% in 3rd Quarter). The article talks about inventory sticking around for longer, and price reductions happening more and more.
I saw it today in the outskirts of LA, where I looked a some property that has been on the market for over a month at a price that would have been snapped up a few months back. They just dropped their price 7%. Should be a growing trend.