"Inventory" is Down

We think you will be interested in this article from the Wall Street Journal on the condition of real estate "inventory" in California. Then it occurred to us that you might be interested in the definition of inventory, so we looked it up. Here's a nice, concise definition:

The amount of time it would take to sell all current listings at the current sales pace if no new listings became available. Normally measured in months (i.e. there's currently 8 months of inventory available).
This definition of Inventory Level contributed by finecoastalliving, through the site called Real Estate Forums.

And now for the story...

What's it like in Gilroy? Very competitive, when properties are priced right. Pricing is the key. It always has been and it always will be.

Government Exiting, Strategically, from the Mortgage Markets

“For more than a year, the government pulled out the stops to revive home buying by driving down mortgage rates. Now, whether the housing market is ready or not, the government is pulling out.” So says The Washington Post in an article.


Some say the government action to pull out is too soon, others say the pull out is the plan, and good for the economy. Read the full story here.