As mentioned in the Daily News Record today, the number of homes for sale keeps declining.  Current inventory levels are down 14% (see the graph above) from one year ago --- and down 25% from two years ago.

SELLERS:  Research (with your Realtor's help) inventory in your segment on the market (age, location, size, price).  You need to know if your segment of the market is also experiencing declining inventory.  Price, market and negotiate according to what you find.

BUYERS:  If you are attempting to buy in an under-supplied segment of the market, be ready to act fast when the right property comes along with home sellers who have priced the house to sell.

WOULD-BE SELLERS:  Research your segment on the market to see if you'll be listing your home in an over-supplied or under-supplied market.  You might be positioned quite well to sell quickly --- or, you might be in for a long wait.
   
Read more about the local housing market in my full monthly market report by clicking on the report cover below.