Housing inventory remains tight at mid year
While there are about 10% more Single Family Homes (SFHs) currently available for sale than there were a year ago, the inventory as measured by the industry standard of months of supply remains quite tight at 4.4 months in Essex County as a whole, compared with 4.1 months a year ago. A market is generally regarded as being in equilibrium between buyers and sellers when there is 6 months of supply.
The table below shows the wide range of supply between 3 months or less in Beverly, Lynn, Middleton and Peabody, all the way to 12 months in Manchester and Wenham. (more…)
Recent Comments