In July of 2011 the Absorption Rate was 11 which indicated a market that was deep into a Buyer’s Market. This year, the Absorption Rate is 7 which is indicative of a more balanced market. Does this mean we have hit bottom? Not necessarily however, there might be quite a few buyers kicking themselves for not buying a home last year.
This stabilization in the Absorption Rate is good news for sellers in the Wake Forest Real Estate market. It essentially means that the inventory of homes for sale is lower therefore meaning less choices for buyers.
If you aren’t quite sure what an Absorption Rate is you will definitely want to read What Is An Absorption Rate And How Does It Affect You?
For more information on the Wake Forest NC Real Estate Market please feel free to give me a call or send me an email – I would be happy to help!
For more July 2012 Real Estate Market statistics you can check out June 2012 Price Points