Last night on PBS Ch. 9, the News Business Report reported that national absorption rates are currently at a level of 6.1 months. Six months of inventory is smack dab in the middle of what experts consider a healthy environment, where neither sellers nor buyers have much leverage over one another. (for more info on absorption rates, see “Is This a Buyer’s Market?”)
However, unless you are considering buying ANY type of residential property, at ANY location across the country, these numbers may not mean anything to you. You will definitely want to take a closer look at your exact situation, including area, property type, price point, etc. For instance, if you were considering buying a 2 bedroom, 1 bath, single family residence in North Seattle, you would find that we are at about 2 months of available inventory. This basically means that at least in this demographic, we are seeing quite a seller’s market.
Looking at statistics like this may help you decide whether or not it is a good time to enter the housing market. If you decide that it is a good time to buy, these stats can also help you decide how to proceed. If you found this info interesting, and would like to acquire more info about todays market, go to our Calendar/Reservations page and sign up for one of our FREE Home Buyer workshops.
