Rising Inventory of Unsold Homes Is Likely to Put Pressure on Prices

Her is a shory summary from the WSJ today: Home inventories rose 4.7% in August, signalling more downward pressure on prices. The biggest increases: 1) Dallas (16%) 2) Seattle (13%). Of 18 areas studied, only two saw a drop in inventory (Boston [-1.5%] and Washington D.C. [-1.6%]). Prices are falling as sellers become more realistic; over 35% of homes' prices have been reduced. Yet buyers, it seems, still await further price drops.

Chances are slim to none, but maybe one day I will be able to afford a 2 bdrm..