The nation’s inventory of unsold homes – an important component of a more balanced housing market in the second half of 2005 – is growing steadily in many areas of the country even though buyer demand continues strong, according to the latest HouseHunt, Inc., quarterly “Current Market Conditions” survey. The percentage of member real estate agents reporting plentiful vs. limited supplies increased from 33% in the first quarter to 38% in April, May and June.
Exceptions would be South Florida, Arizona, Southern California and certain other housing and job growth hot spots.
Market equilibrium would be attained when the present 4.3-month national housing supply increases to about six months, or about a 50-50 buyer-seller ratio.
HouseHunt, Inc., is a consumer-oriented Internet firm that provides valuable free information to homeowners, home buyers and home sellers. Survey results are based on Current Market Conditions sales data reported by HouseHunt’s Exclusive Agent Referral Network (EARN) members in 47 states.
Survey results also included: