Housing Inventory is starting to go down!

Hey Everyone!

Finally, after two years of rising inventories, our inventory for single family homes in brevard is down under 7,000 homes for sale to 6940 and condos and townhomes are down from 3500 to 2504.

This is extremely good news for our market. To me, it means we are pretty much at the bottom of the market and that as each month that goes by our lower priced homes will hold firm. Homes that are still over priced will still sit on the market a long time and will probably not sell until they become realistic.

So what does this all mean to you, our home buying customer? It means that if you have been waiting to pull the the trigger on buying a home, this might be the time. As inventory eases over the next several months, the prices will flatten and then start to rise again. My belief is by the end of this year we should be starting to see an uptick in pricing as the inventory will be low. According to our Supply and Demand Curve, lower inventories mean higher prices.

That's all for now, I just noticed this today and thought it was important enough to share with you. Remember, nobody really knows when the bottom of the market is, until it starts going up...by then you have missed it!

If you are thinking about when is the right time to buy, this is it!

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