The Fall Slow down. This is typical during the past years since both Paris and I have been in real estate. That is our Paris911 Team actively representing buyers and sellers of homes and real estate since 1998.
It did not matter the market, nor the economic status - Fall - During the Holidays, the market tends to slow down. Some records have been broken in years past as far as "lowest priced real estate" - "Highest prices overall in local Real Estate" - amongst others.
However, this year won't be a "record breaking" year, unless the discussion comes to the record being set for the "highest interest" rates we have seen in 42 months.... That one is too early to tell as well by the way.
If you want my opinion and if you agree with me that opinions are like As$holes, I'll give it anyway, but with none of the fluff you may expect coming from someone that sells houses for a living.
We are going to hold steady between 4.5 and 5% interest rates until next year, in 2014 - at that time, I for see the interest rates bridging the 5% mark, during the "rummer rush" of 2014. After that, It's anyone's guess.
Inventory - it is going to start to increase this year, as part of the typical Fall Slow Down in Real Estate, however, it is not going to change and will continue until the real estate market completes it's shift from a Sellers real estate market to a buyers real estate market.
Be safe - search well and let us know when you are ready to MOVE...