Better late than never (but in my defense it was another uneventful
month):
In fact I will dispense with the commentary this month as there
isn’t a whole lot to add to what I said last month (which wasn’t
much to add to the month before, etc). Here are some graphs
for your possible enjoyment.
November 29, 2014 @ 7:49 AM
Looks like the average
Looks like the average inventory over the last 5 years is about 3 1/2 months. A little on the low side historically probably, what do you think the average inventory is historically? 4 months? 6 months?
December 2, 2014 @ 9:52 AM
Well, the rule of thumb is
Well, the rule of thumb is six months. Interestingly, if you look back at the all-inventory one (which goes back further), 6 months was actually pretty good for a long time… ie, that marked the line between whether prices were going up or down. In recent years, it seems that the “neutral” inventory has gotten closer to 4 months. On the active only chart, it seems like in recent years 3 months was neutral — but that also shifted, and was higher previously.
So not a clear answer there… if I had to sum it up I’d say historically the 6 month rule of thumb worked quite well, but more recently it’s been more like 4 months, for whatever reason.
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December 12, 2014 @ 11:25 PM
You have to let me know if
You have to let me know if you get any calls from this… 🙂
December 17, 2014 @ 9:05 AM
Maybe because of online sites
Maybe because of online sites the real estate market is getting more efficient and that is why houses are not on the market as long anymore. Just a thought!