Taking Inventory

When inventories of unsold homes reach a six month supply, real estate professionals generally recognize the beginning of a buyer's market.

As the inventories of unsold homes grows, sellers face greater competition than they did a year ago. While it always been essential for sellers to price their properties realistically, it is even more important to do so during times of changing market realities. To get a realistic assessment of the current real estate market, sellers should do their own surveys of comparable homes in their area in addition to asking real estate professionals to suggest an asking price. Sellers should also visit open houses in an effort to identify the competition and make comparisons with their own homes. In the end, sellers should take hard looks st their homes and the market before setting an attractive price.