May 2014

There are 1 blog entries for May 2014.

If you read reports on the real estate market in various cities across the nation, you'll run into the phrase "months of inventory."   What does that mean?   This figure is determined by looking at the number of homes for sale and the average number of homes that have sold per month over the past year.   If there are 1,000 homes for sale and only 100 homes have sold per month, there's 10 month's inventory. You're in what is commonly called a "Buyer's market." Homes remain on the market longer and generally experience price reductions. Sellers are also more likely to offer concessions in this kind of market.   If 500 homes sell per month, there are only 2 months' inventory, and you're experiencing a seller's market. Homes generally…
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