Inventory is low?

Given all the news about the glut of homes on the market as a result of foreclosures and short sales, there is a surprising dearth of houses for sale in our area, including Georgetown. The Greater Capital Area Association of Realtors reports that, compared to a year ago, inventory is down in all but one price range...from $150,000 into the millions. That seems counter-intuitive and is especially surprising in that we are going headlong into the Spring Market. Georgetown real estate is no different. I expect that to change in the next couple of weeks as both buyers and sellers gain more confidence.