May 1st, 2009 11:01 PM by Sherry Lee
At the beginning of this year, Palm Beach County had over 36,000 homes on the market. As of this writing, we are down to about 27,000.
The housing inventory appears to be shrinking. Of course, after Sunfest, snowbirds that managed to make it down here this year will start going back up north. The summer market will be upon us and is usually not as strong as the winter/spring season. Does that mean sales will slow? Will inventory start growing again?
Maybe. Based on the level of foreclosures in the pipleline, there will be a continuous flow of new distressed property coming into the market place. It remains to be seen if there are enough buyers with enough money and credit and guts, to step in and start buying again.