David Lohman, broker in the Prince William County area of Virginia, is reporting that Inventory is at an all time high and prices are falling 1-2 percent each month in most areas.
But while prices have fallen in some areas because of buyers taking advantage of this large inventory of homes on the market, homes priced "correctly" are still bringing offers.
David goes on to report that "builders and sellers are giving major incentives and also lowering the sale prices when buyers negotiate. There is plenty of inventory for buyers or investors. Current inventory will most likely cause an additional 5 percent reduction in sale prices over the winter market.
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