Housing Inventory is Down in Ann Arbor

Missy, our inventory is down also. I'm telling the sellers here to get their homes ready early to beat the rush onto the market.

This is important to know for buyers. Compared to a few years ago it may be a buyer's market, but that doesn't mean everything is dirt cheap and you can get a home $20,000 below asking price.

Missy,

We are short on listings here too and have been getting multiple offers on properties for a number of months now. I believe it's the low interest rates that are driving the frenzy....

Jo

Missy - good informaiton for buyers so they can be prepared for possible frutrations, or needed to make quick decisions.

We have seen our inventory drop up til December but it looks like it is moving up again, which is good for buyers. The Altos Research grahps are such a big addition to your reports.

Jeff

Missy, I think some people are waiting until Spring.  It's so cold to be out viewing properties they'd rather wait.  Things always pick up here in Spring.

Missy... is this good news or not, that inventory is down. I am hearing that business is slow for many, yet the news said that originations were up like 14% in January... I know some people are business and some markets are very good... but overall, I am hearing that it is down.  What is your take on inventory being low in your area?

Fantastic to see inventories dropping.  We have the same thing here.  It's a good thing.  Now lets hope the trend continues...

Missy - It looks like your market is coming back. We all still use a little improvement to make up for the last 2 years.

Missy, that's GREAT news; well unless you are a buyer.

We have seen quite a drop in inventory levels where I am as well. There are pockets where a good home coming on the market will get scooped up quick.