The Wall Street Journal recently wrote an article about housing inventories hitting a new low in 2011. Normally, a decline in inventory would be a positive sign, but in the current market, that isn’t necessarily the case. Instead, the Journal posits that low sales volumes and declining inventory suggests that there aren’t many opportunities for “price discovery.” While interesting, the data used in the article is national, not local, and may of the theories posed don’t match what we are experiencing here in Los Angeles.
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