And we go DOWN DOWN DOWN... Inventories UP UP UP

A picture is worth a a thousand words, so here it goes: POTTSVILLE PRICING / NUMBER OF LISTINGS ... Prices are still dropping. Activitity is picking up ... but the number of listings is also on the rise. Does anyone NOT see the implications here? We're on a downward spiral. Number of listings rise. Buyers circle the ever growing number of properties. They buy some, but not all. More properties come on the market than are going PENDING. With more inventory, prices DROP even further. Some people state they see the bottom coming. I hope so, but I think this spring we're in for HIGHER inventories, lower prices, and months and months till this corrects. I'm not a pessimist, but we need to be prepared for a long ride. Now I know these numbers are not really that high. I'm trying now to compile a chart of data like this from the past 12 months and will post the results as soon as I can get it all analyzed. Stats/data from Trulia