As I mentioned last month, the miniscule drop number of homes sold (or homes that didn’t sell) in July had nothing to do with the economy and everything to do with speculative sellers not getting what they fantasized about, and a saturation of poorly priced or poorly marketed properties.

August was nearly inventory-less, and the buyers had no choice but to fight over what was available. I guess they had the option of waiting, but they didn’t seem to want to do that, either.

The Examiner has one article and MSNBC another, and SF Gate a third on this always-hot topic.

Now we’re into the post-Labor Day market and there is an absolute mountain of new inventory. It might not be what every buyer in every category was waiting for, but it certainly giving people plenty to look at. As always, the well-marketed properties will sell well, but many properties will be passed over and either be pulled from the market or will become better deals (after being on the market for 3+ weeks).

Stay tuned… It should be interesting to see what all of the buyers from August can find this month…

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