Have you heard? The market is stabilizing – and we’re seeing evidence of it across the board. The Standard & Poor’s/Case-Shiller home price index of 20 major cities shows the first monthly increase in almost three years. In Orlando, home sales are up 43% compared to June last year. Sales are up so much our inventory is down to just over 8 months – a 6 month supply is considered by economists to be a balance between buyers and sellers. True, bank owned and short sales are still pushing the numbers up - 46% last month were distressed sales – but those are homes that are no longer available and homes that have helped neighborhoods set a bottom for prices. And those of us who watch the market daily see a sizable difference in the number of homes available. Neighborhoods that just recently had multiple listings are down considerably. Take Summerport in Windermere for example. I remember just a short while ago when the number of homes for sale was closer to 60. It’s now down to 27 … and a whopping 42 homes pending!! That’s just single family homes – does not include townhomes. In Clermont, take Lost Lake: right now there are 8 homes on the market and 7 homes that are sale pending. That’s a very tell-tale sign that the inventory is evaporating … and remember back to Economics 101: what happens to prices when supply drops?