August 25th, 2020
While looking at the "static" number for "this" month (this site will update every month automatically) is important, what is MORE important is studying the trends. Are supporting trend lines (along bottoms) or resisting trend lines (drawn along tops) holding? If the chart below is missing, contact me and click the link instead. Remember the market's strength is INVERSE to what the chart shows. In other words the higher the number of months supply, the weaker the market and vica versa Here's another set of market metrics, showing market "temperature" from a real estate research firm I pay a lot of money to in order to provide good customer service/information to my clients. The "Market Action" index is a measure of supply/demand dynamics and is a proprietary algorithm. Note again here, the trends, and not so much the latest static number. This chart is different than the above chart, in this case the higher the number, the stronger it is a seller's market. Particularly, anything over "30" is the algorithm's number defining a "seller's market"