The latest real estate data tells us that it would take around 10 months to sell all the homes currently on the market, without adding any additional inventory. At the end of February 2008 there were just over 4 million homes for sale nationwide. The credit market is expected to remain tight for at least the remainder of 2008. Median sales prices across the nation may continue to spiral negatively into 2009. Buyers should remain on the sideline for the near term unless that once in a lifetime deal that cannot be passed up comes along. If that happens then check with your Realtor and make an offer.
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