Housing inventory rises again in April – May. 8, 2008
by Tom on May 8, 2008
in Uncategorized
Housing inventory rises again in April – May. 8, 2008
This is frankly a good sign for buyers and not a good sign for sellers. Until we can get inventories worked down to a “healthy” level, we’re not going to see the market regain the health that it needs.
What’s a healthy level? I’ve heard it said that a 6 to 8 month inventory is a healthy number. In Florida, there’s a 5 year inventory of condos. That’s not a good number for sellers.
Until we see inventories shrinking, we won’t see a bottom to the market.
