The NYT reported yesterday that "the number of homes
for sale on Long Island and in Queens in June was 22 percent higher this year
compared with the same time last year, signaling, some say, that prices have
been raised too high for many buyers.”
Housing Inventory Increases (NY/Long Island)
Chart courtesy of NYT
“The numbers come from the Multiple Listing Service of Long
Island, a network of about 2,300 real estate offices in Long Island and
Queens.” They also report “median home sale prices are still rising in Nassau
and Suffolk, but at a slower rate."
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Quote of the Day:
"Stock prices tend to discount that
what has been unanimously reported by the mass media."
~Louis Ehrenkrantz
It would be interesting to see any statistical relation between inventory or days on market vs future price. While the relation is obvious, does anyone have any numbers?
Does anyone have such data or link?