The latest monthly graphs now updated...
Inventory levelled out in June, due apparently to a large number of expired listings. MOI still rose to just under 6 months of supply, largely due to weak sales. The Spring market appears to be over and I think we can expect sales to continue to decline. Whether the inventory shows up like in 2008 remains to be seen, but with negative returns on properties one wonders how long speculative investors can continue to service their debt considering the price decline trend is well established for the rest of the year.
