It’s really very simple.Remeber Economics 101? It’s all supply and demand. If you want to see which way the market is headed and when prices will increase, just look at the direction current inventory is headed. When it’s headed up prices are definitely going to fall and when inventory levels get low prices will start to rise.

Currently, in Westport, we have 20 months supply of inventory, vs. 66 months in January. In Weston the trend is even more dramatic with 82 months in March and currently 17 months supply. In Fairfield there is currently 16 months supply down from a high of 39 months in February. Norwalk also has a 16 month supply down from a high of 21 months in March.

My prediction is that when we have 6 months supply of inventory or less prices will start to rise…. Until then the market will continue at the current slow, but steady pace.

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