Inventory Hits New Lows
Inventory continues to move to even lower levels. I expect this point to be the bottom of the low inventory, which is also the peak of the seller’s market. As sales slow into Fall and Winter, inventories should start to return to a more balanced market.
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.