This article was originally posted on DothanHomeSearch.com
Yes, I realize this report is about a week or so late. Fortunately, there are a good number of people buying and selling houses right now in Dothan, so we are swamped. So, apologies for being late and here is this month’s inventory report.
Inventory
Inventory was up just over 5% in April to 968 single family units on the market. On its face, that looks like a significant change. Inventory typically rises in the spring, so we’ll have to wait a month or two to see if inventory is going to start another upward move. From what I have read out on the web from other markets, inventory is holding steady or even falling in some areas. I don’t look for this to become a trend.
Absorption rate
The absorption rate, or the number of months it would take to clear the market of inventory if no more houses were listed for sale, is down to 9.49 months, the lowest level since last September. I use a three month average of solds to figure the absorption rate. Using a three month average helps smooth out the ups and downs of the market, and gives a more accurate picture of what is happening.
Inventory and absorption rates can vary between different areas around Dothan. If you would like to see these numbers for a particular area, drop us an email or leave a comment below with your request!
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