[Homestead] Real estate market in balance
genegerue at ruralize.com
Mon Apr 10 14:37:48 EDT 2006
Thank goodness; perhaps, finally, we will stop
being battered with B.S. bubble babbling.
Supply and Demand Nearly Balanced In Overall U.S.
Housing Market for First Time Since 1998
RISMEDIA, April 7, 2006For the first time in
eight years, the overall U.S. housing market is
experiencing a rare balance between home buyer
demand and home seller supply, according to
HouseHunts latest Current Market Conditions quarterly survey.
Only 45% of respondents reported more buyers than
sellers, compared to a 61%-39% ratio six months
ago. Thirty-one percent reported more sellers
than buyers; the remaining 24% said their markets
are almost evenly divided. In the South, the
Midwest, the Northeast and in California, the
buyer-seller ratio closely matches the national figures.
National survey results from HouseHunt member
agents in 47 states mirrors the latest monthly
sales activity reported by the National
Association of Realtors (NAR), which estimated
the nations supply of unsold homes at 5.3 months
for both January and February. An inventory of
5.5 to 6.0 months is considered a balanced market between buyers and sellers.
The last time we experienced a balanced housing
market was in January, 1998, when we had a 6.4
month supply of unsold homes, said Walt Molony,
a NAR spokesperson. The record for the lowest
inventory was in January of 2005, when we reported a 3.7 month supply.
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