The Patient Buyer

Ren runs up: houses take 33 days to sell now. Granny Ume: 4.8 months of houses wait for buyers, up from 4.5 a year ago. Mio: is that a lot? Granny: more than last year; the patient buyer sets the price. Sales ran at a 3.99 million pace in September, down 2.2% on the year, and even the Realtors' own economist expects discounts. Poko: Poko waits too.

Behind the mortgage arithmetic the market has slowed: homes sold at a 3.99 million annual pace in September, down 2.2% on the year, 1.6 million were unsold, 4.8 months' supply against 4.5 a year ago, the typical home took 33 days to sell, and the Realtors' chief economist says sellers may need price discounts to attract buyers even though the median price has risen for 39 months.

Starring

RenGranny UmeMioPoko