Tri-Cities Herald Trumpets – Home Sales Drop 23% Over Last Year

Posted on Aug 15, 2008 by in Buyers, Sellers, Tri-Cities Market

But it’s not really that scary. We had a fantastic year last year, so this year is ‘just normal’ comparatively.

The important figure to consider is the supply of homes on the market.  If there are more than 7 months worth of homes on the market (it would take 7 months to sell out the current inventory if no new listings came on the market), it’s considered a buyer’s market.  4-6 months supply indicates a buyer’s market.  Less than three months of inventory means it’s a seller’s market.  We’re balanced right now, and that’s good for both buyers and sellers.

Read the whole article here.

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