In my head it was six months supply is considered normal, but that is +/- 1 month. If it were a normal market it wouldnt be unusal to see 5 month supply’s in the spring rush and 7 month supplys in the fall slowing before properties that didnt sell delist for the winter. But this is just what I have in my head and could be totally wrong.

AN, another way to think about it is that MM is one of the most manipulated markets right now, and months of supply as a stand alone indicator in a highly manipulated market can often be totally wrong.