Housing Inventory Levels Plummet in December
Scott P. Rogers
First - a note - each data point above is for the end of the given month. Thus, the 235 homes for sale in November are at the end of November -- or, as the case may be, the very beginning of December.
Now, there are a few disclaimers I could make about the above data...
- We just rolled over into a new month -- some listing agreements end at the end of a month (such as Nov 30) and then end up being extended within the first few days of the following month. So -- maybe some listing that came off the market in recent days will be revived this coming week.
- Some sellers who were not successful in selling this Fall may have decided to take their houses off the market for a few months (Dec, Jan, Feb) to then put their houses back on the market in the Spring.
Regardless of the reason or explanation, though, the current inventory levels are SUPER low! Which is terribly frustrating for buyers -- and a great opportunity for any home owner who does need to sell right now. You are not likely to have much competition from other sellers!
Stay tuned later in the month when I compile my full monthly report and we'll see if inventory levels perked back up as we made our way further into December.
