Here are the highlights from October Home Sales condensed in one nifty graphic.
For those of you new to the blog or my Facebook page, I'll explain months supply of inventory. When there is too much inventory (too many houses on the market) it is a Buyers Market. When there is too little inventory (too few houses on the market) it is a Sellers Market. Right now we have a 7.4 months supply of homes for sale. Most experts, including The Real Estate Center at Texas A&M consider a 6month supply of homes for sale to be a balanced market.
Why even bring it up? Well, not long ago we had over an 11 month suppy of homes for sale in Southeast Texas. So what it means is inventory has been going down. The market is getting better.
If you have other questions about the buying or selling a home in Southeast Texas contact me. I'm here to help with all your real estate needs.