Rising Inventory = Dropping Prices

Rising Inventory and Dropping Prices

Will Charleston be part of this national trend? Its my opinion yes - I keep my eyes peeled for interesting market news and wanted to share this article -

Quoted from Trulia 7-20-10

"Seller's are feeling the heat this summer as the economic recovery simmers down and home inventory levels climb," says Pete Flint, co-founder and CEO of Trulia. In July's price reduction report, we discovered that 24 percent of US listings have experienced at least one price reduction. That's a nine percent increase from the previous month. As more and more sellers reduce their home prices, the total dollar amount slashed has risen to $27.3 billion. Read the full report 

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