Fun for everyone! Well maybe not. This is a tough market with bad news and tons of bad media. Reality is often shades of perception. The drop in inventory is only slightly surprising. I have told my clients for years that between October 15 and 31 many people will decide to wait out the holidays because they are busy. The last 2 years in the inventory jumped August to October. This year it dropped.
Now what a lot of people don't understand is the inventory is a very fuzzy number. We try as hard as we can to standardize numbers but the theory for Inventory In Months is a little shaky. It says that the sales of the month versus what is out there determines the how many months until we ran out of houses.
There is no factor for an overload of high end or low end homes. A builder could roll out huge incentives and skew the numbers.
I wanted to get the numbers out for people to see. Hopefully in a week or so I will show some previous years numbers.
1 comment:
Hi. this is an informative post
Idaho Real Estate
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