This Buyer's Market Is Showing Signs of an End

Posted at 5:59 AM, Jul. 29, 2009

While we still can anticipate more months of a buyer's market, it is showing signs of closure.  According to the National Association of Realtors, the national supply of housing peaked in November of 2008 with an 11-month supply.  However, as of May of 2009, the supply has dropped to 9.6 months.  Granted that every market is subject to it's own inventory statistics, but we can see from these overall facts that the gap between supply and demand is shrinking. 

What does that mean for the consumer?  Well, if the inventory continues to shrink, thus reducing supply, we can anticipate that housing prices will rise or even flatline in some areas and sellers can anticipate offers closer to list price and less time sitting in the market. 

So, if you are a buyer that is still sitting on the fence looking for the "right time", here's your clue.