Below is a summary of the real estate market in Omaha for the month of May, 2008.

These numbers encompass all residential listings in the Omaha Area Board of Realtors Great Plains Multiple Listing Service.

Absorption rate is the amount of time it would take for all of the current properties for sale to be sold, or absorbed into the market, assuming that no additional properties are put on the market. At the moment there is a 6.3 month supply of homes available. This is up slightly from last month (Omaha Real Estate Market - April, 2008 ) when there was a 5.79 month supply. This increase is due to a higher number of homes for sale and a decrease in the number of accepted offers. Typically during this time of year you would see both the number of homes for sale AND the number of accepted offers go up.

Trumm Team - Alliance Real Estate, Omaha, NE

Your Home Sold within 120 Days or I will Buy It!