Has the market maxed out?

NO

The market has definitely began to soften and self correct. Seller's with unrealistic pricing goals are seeing their properties sitting longer with more price reductions as buyers are expressing the classic buyer resistance syndrome. I don't think its maxed out but I think the days of overpriced apartments flying off the shelves are gone.

Nothing goes up forever or down forever, unfortunately you'll only know when the market it's a top after the fact - be it real estate, stocks, bonds, interest rates, etc.

Does anyone have any hard data on this point? Has inventory increased? Aren't we at the tail end of the fall selling season by this point?

Yes; I called this a few months ago.

There's a lot of discussion about overbuilding in the luxury market, and there are years of inventory starting to pile up there, so I think we are for a long run of cr*ppy overall stats ...but bear in mind that down here in the submarkets where the normal people live everything nice still goes with multiple interest, and at decent prices. If flawed properties aren't flying, then maybe this is the top of those submarkets too -- but I'd say it's a mesa, not an inverted V, and we still have another year to run at the sub-$5MM price points.

You see what I'm saying? For the next six months the press will all be about how the real estate market has turned, but I'm not sure that will make a whit of difference to the $2MM buyer or seller.

ali r.
{downtown broker}

* a

@front porch, does it make a difference in the co-op market? Or just in the condo market?

Interested Parties...the data you are looking for is everywhere. Why dont you try urbandigs for your inventory and sales stats questions.....then supplement that with some of the quarterly reports issued and monthly reports issued.