Each month inventory levels drop at the beginning of the month -- as quite a few listings expired on the last day of the prior month. So it's possible that today's incredibly low inventory levels (744 properties) will climb back up by a bit over the next few days.
However, as things stand now, these are the lowest inventory levels we've seen in almost four years. It's actually probably quite a few more months than that, but I have only been tracking inventory levels for the past 45 months.
What does this mean? Hope for further balance in the local housing market -- as the number of hopeful seller decreases, and
the number of actual buyers increases, we'll return to a more balance market.
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