Rapidly Rising Inventory, Home Price Pressures in Store
Real estate data provider Altos Research says its newest housing market report confirms what the company has been saying for some time: the mini “boom” of this spring was created by seasonal demand, with some extra help from the federal homebuyer tax credits.
“Now that those are gone, buyer activity has all but come to a standstill,” Altos said in its Real-Time Housing Market Update released to the press Monday.
The analysts at the California-based firm warn that the industry should brace for rapidly rising inventory and continued home price pressures in August and into the fall of 2010…
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