Sunday, February 12, 2006

Home inventories rise sharply in many major markets

Rising inventory signals some falling real estate prices in Philadelphia and other major cities

In my own marketplace, which is Eastern Montgomery County, Lower Bucks County and Northeast Philadelphia, I have been observing this since Labor Day. Unfortunately, home sellers are frequently the "last to know" and try in vain to cling to the high prices that were being obtained seven-eight months ago. The good news is that this makes it more affordable to trade up, however!! Also, this is great news for first time home buyers.

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