Oversupply

"The market is currently oversupplied with homes that have been placed on the market by both owners and lenders attempting to sell to a limited client base. This is leading to extended marketing times reduced sales prices and increasing concessions amounts to attract the purchaser. The result is purchasers are able to be more discriminating toward te properties they are willing to accept as being reasonable in the market. This trend is not likely to change for the foreseeable future as lenders are placing more properties on the market than can be easily absorbed."

 

Thanks to Matt Kent

 

"Decrease in overall market activity has lead to an oversupply of single family housing in the neighborhood."

 

Thanks to Brian

 

Modified:  2/3/2012

 

 

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