Average days on market started up in 09/2005 with 30 days. 10/2005 was 31 day, 11/2005 was 34 days and 12/2005 was 39 days. Are we headed back to 50+ days? Only time will tell.
WHAT DOES ALL THIS MEAN? My feeling is we are headed back to our 2004 appreciation adjustments with some softening in current sales prices. This is not bad as the market will be much more stable without those large increase in prices. It is too late to help the first-time buyer that was just able to purchase at last years prices. How can we help them? Maybe another topic to discuss.
Stay tuned for my next topic on Rents and Investors.