Several different factors can indicate the health of the nation's real estate market, and one of these is housing inventories. When inventories are low, there are fewer homes for sale, which results in less selection for prospective buyers and more competition for sellers. This is currently not the case for many areas of the country.
In fact, home inventories recently reached their highest level in more than a year, suggesting that market fundamentals continue to be strong and that housing supply in many markets is gradually catching up with housing demand, according to the National Association of REALTORS®.
Other market reports, such as median age of the listing and list prices, are also improving. The median age of the listing inventory is stabilizing, which suggests that housing sales are generally keeping pace with new property listings. Compared to 2012, list prices and inventories are both on the rise. The median list price averages five percent higher than it was one year ago. Across the nation, list prices were up by one percent or more in 98 of the 146 major markets covered by Realtor.com.
Comments(0)