Mops, Sponges and The Months Supply of Inventory
Some months I have felt like I needed a huge mop to soak up the excess inventory. And in some markets that’s still the image that resonates.
But here in Tredyffrin Township for the Third Quarter Real Estate Market, we’re showing signs of recovery. The months supply of inventory is down to 5.6 months. Keep in mind that the MSI and the Absorption Rate is based on the assumption that no new inventory is coming on the market, which is never the case.
The Months Supply of Inventory and Absorption Rates are averages, so there are definitely properties selling within days and even some with more than one offer and others, especially in luxury home price ranges, that are languishing. Read the rest of this entry »
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