NAR reported today that the inventory of single-family unsold homes is up to a 9.2 month supply.  I'm sure you'll all agree that the "mortgage meltdown" certainly isn't helping matters.  The last time we saw inventory this high was back in October of 1991.  For all types of properties (single family, condos, etc) the average is up to a 9.6 month supply but NAR has only been tracking those stats since its last high in '99.

 What's going on in your neck of the woods?

 

 

Posted by:

John Cain
Broker Associate
Keller Williams Realty of Newport

809 Aquidneck Avenue
Middletown, RI 02842
 

 

3 Comments on Inventory of unsold homes hits 15 year high! What's going on in your neck of the woods?

AUG
27
2007
226,587 Points 4 Featured Posts Outside Blog
WE have a rather stagnant market.  Sellers seem to be sitting it out.
5:07pm • #1
1,090,901 Points 201 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master
Same as NAR reported.
5:09pm • #2
597,357 Points 39 Featured Posts Outside Blog

John,

We're right there in our area also. Listings all over the place. No sold signs. I think it would behoove agents to 'thin out' the number of signs in some areas. I still believe that 'Consumer Confidence' and employment uncertainties outweigh the mortgage meltdown factor. Thanks,   Fran
5:23pm • #3


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John Cain : Broker Associate

Newport, RI

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Keller Williams Realty of Newport

Address: 809 Aquidneck Avenue, Middletown, RI, 02842

Office Phone: (401) 845-9200 x 214

Cell Phone: (401) 662-7668

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