“Nobody’s Market”

That was the headline in this weeks Idaho Business Review. I thought it was well put. If you look at the local stats, which a few national new sources have done, one would say it has to be a sellers market in Boise. While national housing inventory sits around 8 months (this means if nothing new came on the market it should take 8 months at the current sales rate to sell everything). Locally we are only sitting on about 4 months of inventory which in technical terms means a sellers market. The problem is it doesn’t feel like a sellers market or a buyers market. We seem to be at a bit of an impasse; buyers may have missed the boat for the killer of killer deals while sellers have said enough we have been beat up enough and we aren’t going down on prices anymore and well the banks, the banks are just hanging on to their money. The last time we saw these inventory levels was back in the boom days which begs the question why aren’t we booming now?