Aug08 Market Update: Months of Inventory
Real Estate has been all the buzz still. Is is as bad as it seems? Is Austin immune? Is the market going to crash? Is inventory still on the rise? Are prices really falling? There are literally questions flying all around me lately. I’ll let the numbers speak for themselves.
Austin’s Real Estate Inventory Statistical Data Chart
Months of Inventory is said to show the general health of a market. A high figure means a buyer’s market (less healthy) and a low number means a seller’s market (generally considered a strong market). Compared to the previous 5 years, Austin’s residential home inventory started around average. It has climbed into 2003 & 2004 territory, proving that we are currently experiencing a buyer’s market where buyers can generally spend more time looking and offer lower. In Austin, we are still seeing strong prices. Experts agree that although we are in a buyer’s market with a cooling sales record, prices have not declined, only the amount of time that a home spends on the market has increased.
Check the blog all this week for more statistical insight into today’s real estate market in Austin.
Related posts:
