It is not truly a versus (vs) situation to compare Active Listings (current inventory) to Monthly Sales of residential properties, but there is a correlation to the facts.

If the number of units sold is not diminishing or reducing the inventory at a rate faster than new units are being placed on the market, then the end results is a saturation of active listings and ultimately, that brings about the need to reduce prices.

As the chart indicates below, the Sales line climbed above the Active Listings line, as the number of active listings has been on a steady, yet slow, decline or reduction through the winter, but in March, as is usual, a slight uptick in inventory occurred, which is expected in the spring and continuing in early summer. The Sales line needs to stay above the Active Listings line consistently to reduce the excess inventory.

In order to place a dent in the inventory that currently is trending, the sales must stay closer to the 225 sales per month level, which has not been the case on average.

March 2012

 

Copyright by Don Davies©

 
This post has been included in North Carolina Real Estate News Buncombe County, NC Real Estate News Asheville, NC Real Estate News
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