Is there any indication of a price rebound in the Fairfield County real estate market?

Fairfield County is still in a declining market. In general, 5-6 months inventory is considered a balanced market, where neither the buyer nor the seller has a distinct advantage. The current market in Fairfield County has a relatively high number of homes for sale, with an approximate two year inventory. When comparing sales for the first half of 2008 to the first half of 2009, unit sales are down on average approximately 33.5%. The market is down about 17% under $1m and 50% over $1m. However, buyers are now coming out and if they buy, the existing inventory should be meaningfully reduced by the end of 2009.