Home Prices Slip, Inventory Rises in April

Peter Viles, writes in his blog, L.A. Land, that media listing prices fell just $100, from $450,000 to $449,000 from March to April in the greater Los Angeles area, and inventory is up slightly. Viles says this reflects “a listless market that is neither deteriorating nor showing signs of life.”
It could be that a lot of buyers are holding back, waiting for sellers to let go of their unrealistic price expectations. Once they do, buyers will be jumping back into the market. Those buyers, however will have to contend with tight credit.