So just what is going on in the housing market?!? Here's a brief summation of what we are looking at IN THE SHORT-TERM:

• Slightly decreasing Inventory with little absorption
• Selling prices have dipped 20% - 35% in some cases, which is a return to 2003-2004 pricing levels.
• Interest rates have slowly increased to an 8-month high (6.37% avg on a 30 FRM in the Southeast sector - www.freddiemac.com)
• Little movement expected for interest rates in the future (relatively stable indicators)
• Insurance rates appear to be a fact of life now, as much as $3+ gas
• Tax relief is on the way (hopefully)

June will be a telltale month for Florida's housing market - I expect a stabilization in the marketplace SHOULD the correct tax relief legislation be passed and voted in soon thereafter.