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.
Have a question about current market trends? Reach out at any time! We’re here to help you
decode the lingo and make the most of today’s market 👨💻