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Thoughts on theory that bottom inventory has been sold and we are now working our way up the scale?

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April 06 2009 - Del Mar
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I don't know your specific area, but upscale houses are still not moving much in many areas. The REO short sale crowd is selling if the prices are right along with starter houses. Many markets still have a stagnant upper range. I think they will continue to drop until they become attractive to upper range buyers, but it is hard to know how the so called "shadow inventory" of REO's will play into the upper part of the market since the quantity is unknown at this point.
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April 06 2009
 
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