Months of Inventory
One of the critical numbers that REALTORS® keep a close eye on is the ‘months of inventory.’ Basically months of inventory indicates the number of months it would take to sell all of the inventory currently on the market.
Generally speaking, if there are six or more months of inventory, it is considered a buyers’ market; three to six months of inventory is a neutral market; and three months or less is considered a sellers’ market.
As of the end of March, 2018, the United States had 2.1 months of inventory which indicates it is a sellers’ market.
Maryland is also a sellers’ market with 2.9 months of inventory.
This information is critically important for both buyers and sellers for opposite reasons, but once again affirms the importance of having a REALTOR® who understands the market and how best to promote your best interests.
If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® who can give you the information you need to make an informed decision.
As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.