Are we in a buyer’s market?

The Definition of Absorption Rates:

Number of weeks it takes to sell the current inventory at the present rate of sales. Using absorption rates can help you define markets. My definition breaks down like this…

Normal Market – Between 5 and 6 months of inventory. (21.65 – 25.98 weeks)

Seller’s Market – Between 1 and 4 months of inventory. (4.33 – 17.32 weeks)

Buyer’s Market – 7 months and higher. (30.31 plus)

Now remember that absorption rates just track trends and isn’t an exact science! Here is the absorption rate trend for 2008.

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  Often, while waiting to be let in, the first thing a buyer looks at closely is the front door. Put new paint on the front door. Buy a new door mat. Buyers take a close look at the basement of a home. They will look for bad wiring, leaky pipes and signs of decay. Clean out basement and dispose of everything you are not going to move. Ensure that there is plenty of lighting. Sweep or vacuum floor. Stack items neatly against walls. ...[Read More...]

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