If you're a buyer, it's tough out there. If you're a seller and your home is priced right, you will receive multiple offers over asking price. We have 1.8 months of inventory, which is a sellers market. This means it would take only 1.8 months to sell everything listed for sale if nothing else came on the market. A neutral market for both buyers and sellers is between 3 and 6 months of inventory. Our inventory goes down each month.
This doesn't mean buyers aren't getting homes, they are. But, it's a bit of a challenge. If you're a buyer, be patient -- your house is out there.
Friday, January 20, 2012
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