Inventory Holding at Severe Lows
Rising prices have brought more sellers to the market. Even with more for sale and interest rates climbing, the inventory of homes is holding at low levels. It is still a seller’s market with the exception of 97201 and 97205. Buyer activity remains strong and this should keep inventories low through the summer with prices continuing to appreciate.
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.