Inventory Decline This Month

The inventory in November for the greater Los Angeles/Long Beach area climbed to over 40,000 units, houses and condos combined--that was up from 27,000 in April 2006. This month has settled back down to about 30,000 units on the market. Buyers have more time to decide, which is good, because buying a new home is pressure enough--but with so much on the market at one time in some areas, buyers have mistaken it for a recession, instead of a more normal market time for most properties. 2007 is predicted to be the 4th best year for real estate, according to NAR, not the 19th, which is what some have been fearing. Try finding your home through my local MLS website search, which is updated throughout the day: www.juliahuntsman.com.

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