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Did you know that there are currently 5067 Omaha homes for sale in Nebraska? Do you know what these means for Omaha Home Sellers and Home Buyers?
Months on inventory determines if it is a buyer's market or a seller's market. The data tells us how long it will take the sell the existing inventory of homes that are currently on the market, provided no other homes come available.
Currently, in Omaha Nebraska:
5067 homes on the market / 770 sold in the last month
= 6.58 month inventory of Omaha Nebraska homes for sale
5067 homes may seem like a lot of Omaha Homes for Sale but considering there were almost 1000 more homes on the market a year ago, tells me the market is STARTING to even out.
Another important number to look at is the number of pending homes. We currently have 1160 pendings in the Omaha Nebraska market. The number of pending homes hasn't been this high since November 2007!
January 2009 - 655 Pendings
December 2008 - 526 Pendings
August 2008 - 945 Pendings
Overall, I think the market is starting to level out and am very encouraged about the high number of pendings and much lower home inventory on hand.
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WOW I love stats as ya know ;) It sounds like your market is like ours a couple of months ago when the pending tide started to turn! Low interest rates, first time buyer tax credits: it's kind of irresistable!!