The inventory of lower-priced homes is growing dramatically as the year progresses. This is due in part to a large drop in sales following the tax-credit expiration as well as continued strength in the number of new listings coming on the market at these price points.
On the other hand, the upper-end price ranges above $350,000 are actually seeing their sales increase and their inventory decline, as these segments were far less affected by the incentive environment created by the tax credit.
Prices are relatively sturdy for all property types so far, except condominiums, where the Median Sales Price has declined by 11.0 percent over the last 12 months. | DECEMBER HSO REPORT
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