Market inventory has begun to slip downward as we start of 2020 hot. The inventory of homes is down to 52.2 days – the lower than at any point in 2019 and the lowest level overall since September 2018. This indicates prices are likely to begin to rise and days on market will begin to shorten.
Of course it’s still early in the year and things could change, but the trends appear to be towards a stronger seller’s market. When that occurs, buyers will find it more competitive to purchase the most desirable properties, and sellers will find it easier to sell those properties more quickly. We still aren’t near the level of inventory where even overpriced properties will sell.
With that in mind, it will be important for home sellers to price and prepare their homes correctly to take full advantage of the improving market conditions (For sellers). Our latest CREG market trackers are here! Click the graphs below for updates on the market pricing and market inventory.