It's too soon to know if this is good news for sellers...a couple of weeks is not necessarily a trend, but this could mean that buyers should start to move...especially if they get the word, as we did this morning, that interest rates are moving up. Usually the summer months signal an increase in homes for sale, but for the past two weeks inventory has moved down. This is particularly true in our more desirable areas of Sunnyvale, Cupertino, Los Altos, and of course, Palo Alto. Many agents and sellers took off for the Memorial Day weekend, and that may have had some impact on the statistics, so I'll take a "wait and see" attitude. I'll also talk to fellow Realtors from all over the state tomorrow when I'm up in Sacramento for Legislative Day. That should give me a better picture.
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