We can tell.
There was a baby rattlesnake basking on our patio.
First one we have seen in 15 years.
“Was” is the operative word.
No one is going to determine the course of the real estate market simply by the inventory, because no one has the time to analyze the homes that have been withdrawn in frustration, but in gross numbers our Hidden Meadows inventory is down to about half what it was last year t the peak of inventory.
My impression is that we have legitimately reduced the inventory, but I don’t have the numbers to prove it.
So, are we at the bottom yet? I suspect so, but that might just be good weather and high hopes talking. It might just be personal experience, having sold a nice home (not in foreclosure or short-sale) TWICE in the past month may just be an anomaly. We will not know for several months.
Only Buyers know what is in Buyer’s minds, and it is only their combined decisions that can move this market.