NAR has reported that existing home sales flattening, prices are cooling through the country but Nick says Long Beach is not reflecting that. While some segments have cooled, some seem oblivious to the cooler market. Buyers are still playing a harder game and are forcing sellers to readjust their expectations.
Even though prices were down in June, they were up from a year ago. And this is what is puzzling many people. Housing inventories directly affects prices. A year ago, there was a modest supply of homes which gave way to a sellers’ market. As the housing inventory levels rise it is influencing pricing. According to NAR the current inventory levels are now in the danger zone.
As usual, 
