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Months of Inventory
The number of homes listed for sale divided by the average rate of consumption (sales). This data estimates the number of months it would take to sell all of the homes currently listed for sale in the "inventory" of Austin's real estate market. A neutral market is neither a Buyer's Market or Seller's Market and economic experts generally agree that 6 months of inventory (or a range of 5-7 months) represents a neutral market. A figure below 5 months of inventory indicates a Seller's Market with a lower figure, such as 0-2, indicating a Strong Seller's Market. A Buyer's Market is indicated by a figure over 7 with higher figures indicating a Strong Buyer's Market. In a Seller's Market, property sellers are in the driver's seat where as in a Buyer's Market, buyers typically have the upper hand.
Unemployment
The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.
