Inventory is holding steady despite the drop in sales in November. It appears that the number of buyers and sellers is keeping inventory at their incredibly low numbers. When inventory is this low it is a sign that prices will rise. Also loan interest rates have dropped to new lows which will push pricing up.
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.