Housing inventory is an important figure. It measures the supply of homes on the market as well as the demand for those homes.
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What is housing inventory and why is it important to buyers? We are answering those questions and more today.
Housing inventory is a measure of our market’s supply.
A balanced inventory is around four months. Anything lower than that is a seller’s market while anything above it is a buyer’s market.
The number of homes on the market is going to affect your value. The more homes that are on the market, the more stagnant the market becomes, and the more competitive you have to be with your pricing.
Low inventory levels, like those in Avondale, lead to competitive markets with a lot of multiple offer situations. Sellers will want to price high and see where the market goes.
If you’re in a high inventory market like the one in Scottsdale, things will be more stagnant and you’ll have to be more competitive with your pricing when selling.
If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.
