July 1, 2008
The local real estate market is drifting without significant activity.
One of the best indicators of where we may be headed is the amount of inventory.
Since the start of our traditional selling season, the local market inventory has continued to increase. That’s a pretty good indicator the market is soft and oriented towards the buyers.
(No surprise there.)
However, the last couple of updates on inventory have shown that the number of listings may have peaked. In fact, a couple of property categories are seeing the numbers decrease. Is the trend reversing? Decreasing inventory is certainly more the norm for June/July in the Lake Vermilion area market.