Inventory continues to hold at low levels. With prices appreciating and more homes hitting the market inventory should stabilize or start to show signs of going back up. The higher the price the fewer buyers can afford to purchase and the more that hits the market the more it adds to inventory.
This localized home inventory report helps give context to the metro statistics that often make headlines. Real estate is a local affair and this report shows which parts of town and which types of properties are selling and which ones are sitting. Inventory is figured in months with 6 months being balanced, less than 6 months favoring sellers and more than 6 months favoring buyers. I use current active listings and 6 months of sold data from the RMLS to create this report.