Click below to access the current report and chart.
Finally, inventory is DOWN!
January inventory was the lowest January since 2006. This makes a seller’s experience so much better because they have lots of showings. Some are even getting offers. The January number for homes under contract is 34 which is one higher than it was the same month last year. With 41 fewer homes on the market, the market feels better.
The National Association of Realtors says that a balanced market which favors neither buyers or sellers over the other is a 6 month supply. January of 2010 we had a 5.45 month supply. January of 2011, that number dropped to a 4 month supply. That should be a Seller’s market and it feels like it is.