Spotting a Real Estate Housing Rebound

How do you Spot a Real Estate Housing Rebound?

Has the real estate industry hit rock bottom yet? If not yet, when? How much more can the real estate industry take before things start to look up? As a real estate professional even I cannot declare with absolute certainty as to the state of the national real estate market. As Realtors it is our job to read our local real estate markets and constantly review its ups and downs to ascertain its state. This can be easy if you know what you are looking for.

So what do you look for?

1. Housing inventory and length of time on the real estate market 

A stable real estate market generally has about a 6 month supply of homes available and homes that sell after an average of 90 days. Of course, markets vary by location, so the main factor to determine would be: Have real estate transactions returned to close to where they were prior to the recent housing bubble? Data on the monthly inventory of homes, average days on the market and total number of homes for sale can be obtained through your local realtors association or a good agent.

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