Brokers lament high inventory

By Lauren Elkies | June 05, 2008 04:29PM

From the June issue: With the traditionally sluggish summer season upon us, the advent of the credit crisis not too far behind and inventory piling up, real estate brokers are bracing themselves for what could be a particularly slow few months. The number of co-op and condo units and townhouses on the market jumped 11 percent to 7,212 homes between March and April, according to the most recent research from appraisal company Miller Samuel. From February to March the increase was 4.8 percent, Miller Samuel data indicate. Buyers are weighing options more carefully, sellers have not been eager to slash prices, and there appears to be no reason for that to change now.

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