The housing market in 3 pictures
Here’s a simple view of the housing market over the last couple of years.
This is what has happened to sales (demand):
Source: NAR;Oliver Reports
While this is what has happened to inventory (supply):
Source: National Association of Realtors; Oliver Reports
And, following the laws of supply and demand, this is what has happened to prices:
Source: NAR; Oliver Reports
Pretty simple, really.
A picture is worth a thousand words and you have summed up all the articles over the past three years in three simple graphs. This is incredibly helpful and I look forward to sharing this with my sellers and buyers. Well done indeed, Andrew!