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Expert Insight into Manahawkin Housing Inventory

The current housing landscape presents greater home values, low interest rates, and high buyer demand. All of these factors point to the strong market forecasted to continue throughout the rest of the year.
In Manahawkin, the housing market absorption rate year to date is at 4.91 months. Absorption rate is the number of months it would take to sell the currently listed homes in the market and anything less than 6 months is considered a “seller’s market.” The median days on market is 42 days – that’s how long it takes for a home to sell (go under contract), though it could take another couple of months to actually close. Currently “new” listings on the market for July are down by over 8 percent. This all points to a seller’s market in Manahawkin.
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There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up.
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Here is a look at what a few industry experts have to say on national trends:
Lawrence Yun, Chief Economist at National Association of Realtors
“Imbalance persists for mid-to-lower ... more

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