Selling Charlottesville real estate in Central Virginia since 1927

Are we near the bottom

October 28, 2008

http://online.wsj.com/article/SB122514834086373809.html

A quarterly survey of housing inventories in 28 metropolitan housing markets (Washington DC has 10% less on the market) by the Wall Street Journal shows inventories falling in all but five cities from a year ago.

This, coupled with the CAAR 3rd quarter market report showing there were less homes on the market than there were after the 2nd quarter, shows a shiver of light on what has been very dark.  It is still too early too tell but it is better than it was 3 months previously.