February Market Wrap

MAR released February market stats today. As in the past, I've plotted the price and inventory numbers for single family homes (SFH) and Condos relative to the last few years.

First up, prices:

These plots graphically emphasize the deceleration in price trends - just look at the jump in prices from February 2004 to 2005, and the flat prices from 2005 to 2006.

Why the flattening prices? How about ballooning (or perhaps bubbling?) inventory:

More analysis over the next few days as time permits. In the meantime, surf on over to the Real Estate Cafe for more discussion of the February numbers (here).