In the under $350,000 range, the current inventory is much less, only 4 months worth. The reason for this is because this category is accessable to a broader cross section of the market. As well as first step-up buyers, first time buyers populate the range. That being said, there are still opportunities for great buys in the lower price range. Price of the home alone does not define a "Good Deal". Personal preferences such as neighborhood type, style of home and decor all serve the value proposition of a home. Even when the market is saturated, well maintained homes priced correctly will sell relatively quickly. Not in one week anymore, but still relatively quick.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
I don't want to start a cyber arguement, but I had to respond to you post to this question. You might want to do a little more reading before declaring that we've already hit the bottom of the market. Home prices need to come back into line with rental rates, which means big cuts for sellers lie ahead.
See these two article listed below
Unfortunately, the picture isn't as rosy as you painted it.