Housing inventory is an important piece of market data. It’s especially useful for sellers, because it tells them how much demand there is for their home. Right now, we have only two months of available inventory, putting us in a seller’s market. This means that now is a great time to sell your home if you’re looking to cash in on your equity. To learn more about how inventory affects your home sale, watch this short video.
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One piece of market data that is essential for home sellers to examine is housing inventory. Why does the inventory level matter to the sale of your home?
Well, housing inventory is a measure of the amount of houses that are currently available for sale, but doesn’t include homes that are contingent, pending, or sold.
We have just two months of inventory, putting us in a seller’s market.
A balanced market usually has about four to six months of inventory, but right now we’re not in a balanced market. We have just two months of inventory, putting us in a seller’s market. This means that there is more demand than there is inventory, which is going to drive prices up.
We are seeing prices pretty close to what they were during the boom of 2005 and 2006 so if you’ve ever considered selling, it’s an amazing time to get your home on the market now.
If you have any questions for us, give us a call or send us an email. We would love to hear from you.
