Housing Supply Is Rising. What Does That Mean for You?
By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
An important factor in todays market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point well see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges:It looks like inventory may have hit a bottom (we've seen this in the higher frequency data as well). Unsold inventory in May was at 2.5 months supply, up from 2.4.To put it into perspective, the graph below shows levels of inventory rising since the beginning of the year:Were still not close to a balanced market, which would be a 6 months supply of homes for sale. However, we are seeing a slow but steady increase in homes coming up for sale. And that leaves many buyers and sellers wondering the same thi...
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