The newest RMLS statistics have just come out and for the second month in a row our inventory is below one year. April’s inventory came in just under the 12 month mark at 11.9 months. The inventory represents how many months it would take to sell all the homes currently on the market at the current sales rate. This number lowering is a good thing.
Back in January we were at a record high of 21 months and in February we were at almost 19 months. I expected to see the inventory number go down like this since we are seeing a lot more activity on the market.
We have seen the pending sales increase week by week for the last 15 weeks. Can you say hooray! Let’s hope this trend continues…
If you want additional statistics please feel free to email me or give me a call. I’m here to help.