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.