Months of inventory is the measurement of when we would run out of homes for sale if no more homes came on the market AND homes continued to sell at the pace that they have been selling.
For example, if there are 2 months of inventory on the market, if homes continue to sell at the pace that they’re currently selling, we would run out of houses on the market in 2 months.
But what does this mean for you if you’re looking to buy or sell in today’s market? If we have under 3 months of inventory, we consider it to be a seller’s market. Anywhere between 3 and 6 months is considered a little bit more balanced and over 6 months would be a buyer’s market.
The market here in Phoenix is always changing. If you’re in the market to buy or sell a house this year, message me today to set up a consultation.
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