Market Update
In the PhilaPA area (Berks, Bucks, Chester, Delaware, Montgomery and Philadelphia counties in PA; and Burlington, Camden, Mercer and Gloucester counties in NJ), there were more than twice as many new listings (59000+) in the first six months of 2010 than there were sales (25000+). Though the number of listings was not excessive in comparison to previous years in the decade, the number of (stimulated) sales was still low for the past ten years.
Inventory must decrease, or prices will sag as the year finishes.