Weekly National Market Monitor
In reading this report there are encouraging trends for a return to a normal market. While inventory levels are still low they are growing. The substantial increases in home prices are due to a lack of supply and also skyrocketing commodity prices. However, those commodities are starting to stabilize and, as the report states, builders are starting to increase production although they have a ways to go before there is a glut of new homes in the marketplace. Another encouraging sign in evaluating how soft a landing we will have when real estate slows, more and more people are putting at least 20% down when buying a home which decreases the likelihood they will be underwater even as pricing may soften. But don't trust me... Look at the full report!