What does “Months of Supply” tell us about the market?
To break it down simply:
📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.
📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.
📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.
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