The market continues to be defined by low inventory, (some of the lowest Months Supply of Inventory figures that I've seen) and high demand. However, mortgage rates have gone up recently and are
What is Months Supply of Inventory?
Dated: December 28 2021
What is Months Supply of Inventory? This is a helpful measure in assessing the health of the real estate market. It is useful in determining if we are in a buyer's, seller's or balanced (neutral) market. By definition, it is how long it would take to sell the current inventory of homes on the market, given the pace at which they are now selling and assuming no new listings are added.
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References for Months Inventory graph: https://www.keepingcurrentmatters.com/ https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales
In todays’ market the consumer can access most information about properties on the internet. This is a helpful advance in equipping prospective home buyers and sellers. However, when it comes to the....