Decreased Inventory Translates to Good News

Posted by Abigail Jennings — June 11, 2012

1339438179April proved to be an encouraging month for Lake Norman's housing market. According to the CMLS, the Lake Norman area saw an increase of 21.7% in pending sales units vs April 2011 for Lake Norman homes. All other communities surrounding the lake experienced similar good news. Equally encouraging is that the inventory continues to shrink.

Currently, there is a 13 month supply of homes on the market vs.during the peak of the slump in 2009, when we had an almost 30 month supply of homes. A "normal" supply is when it is neither a buyers' market or a sellers' market, which many believe is around six to seven months of supply. Less supply benefits sellers, higher supply benefits buyers. So, clearly we're still very much in a buyer's market, but the gap is shrinking and it is an interesting market trend to watch.


Share this post

Search Press Releases

Recent Blog Posts

"Happy Thanksgiving To All Our Loyal Clients And Friends"

Linda Secrist, Linda Secrist of BHHS Utah Properties — Nov 20

Selling Your Home during the Holidays...

Leaskou Partners, Leaskou Partners — Nov 20

Winter is Coming: Get Your Home Ready for the Cold

Christine Grenney, Summit Sotheby's International Realty — Nov 20

Historical Architecture of Grosse Pointe – Welcome to 270 Grosse Pointe Blvd

Higbie Maxon Agney, Inc. Realtors, Higbie Maxon Agney, Inc. Realtors — Nov 20

Agent as Friend! It's More than an Idea.

Bahamas Realty Limited, Bahamas Realty Limited — Nov 20