neurontin used for hot flashes

Jan 31

Why Housing Inventory Matters to You

Housing inventory measures how many months it would take to sell all the houses currently listed for sale, at the current pace of home sales.  For example, if there are 400 homes currently listed for sale, and an average of 100 homes are selling each month, there would be a 4-month housing supply.  This is because it would take 4-months to sell all the homes currently listed for sale.

A buyer’s market is anything more than 6 months.  If the inventory numbers are a little higher than 6 months, buyers have a little more negotiating power than sellers.  But if the inventory numbers are a lot higher than 6 months, buyers have a lot more negotiating power than sellers.  In this case, home prices are very likely to move lower, and sellers will most likely accept an offer for less than the listing price.

A seller’s market is anything less than 6 months.  If the inventory numbers are a little less than 6 months, buyers have a little more negotiating power than sellers. But if the inventory numbers are a lot lower than 6 months, sellers have a lot more negotiating power than buyers.  Home prices are very likely to move higher, and buyers will most likely be competing with multiple offers (in some cases, dozens of offers), on the house they want.

Here in Yuma, Arizona, the inventory levels vary drastically depending on the price range of the home.  Here is a quick overview of the “months of supply” in each price range:

Contact me for more info on the latest housing inventory stats in other markets!

Source: CMPS Institute

 

facebooktwittergoogle_plusredditpinterestlinkedinmail