Monday, November 23, 2009
With the surge in sales activity, the number of unsold homes on the market is falling rapidly. Recovery skeptics keep arguing that there is a second "wave" of foreclose properties that is set to hit the market sometime in the next several months. Banks are said to be sitting on a ton of properties and when they begin to release them, prices might plunge again, setting the economy up for another slump, or so the theory goes. It may well be the case that there are lots of properties that will be hitting the market soon, but the way things are going, the market soon is going to be begging for more inventory. At the right price, which it appears we have found, the market can handle a huge volume of transactions without suffering indigestion.
Posted by Scott Grannis at 11:34 AM