Posts from October 6th, 2016
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How Supply & Demand Impacts the Real Estate Market
The concept of supply and demand has been reiterated to you for years: The best time to sell something is when supply of that item is low and demand of that item is high. This guarantees that the price for that item increases as supply lowers. This is exactly what is happening in today's real estate market! In our markets, 4-6 months of inventory is considered a balanced market. 0-3 months is a seller's market, and 7 or more months is a buyer's market. However, this also varies by price range, with stronger demand generally in the lower price ranges and weaker demand in the upper price ranges. Nationally, there has not been a 6-month supply of inventory since August of 2012. Below are the last 12 months supply of inventory. Also nationally, fewer than 6 months of inventory is considered a seller's marker, so prices will appreciate. 6-7 months of inventory is considered a neutral market, and pric...
