"WANTED" Sellers Wanted

As reported in NewYork Times & The Post, inventory is way down. The declining available inventory has been the issue as of late! Its Basically SELLERS WANTED.   The current available inventory as of February 2013 is 21,563 compared to 29,019 the prior year. This represents a decrease of over 25% from last year.  Favorable avordability conditions and continued healthy contracted sales activity is contributing to the diminishing inventory. The inventory is creating market conditions that really favor the seller, which should eventually give way to increased home prices if the basic principle of supply and demand applies.  What does this all mean for us on Long Island?    The good news is the market is definately taking an upswing, which is always the first sign that the economy is in recovery...  Call me with all of your Real Estate Questions.. Tami 631-682-7722 Remax Signature Real Estate