Today, I would like to discuss our local market, its current conditions, and specifically address the topic of inventory. When we refer to inventory in the housing context, we are essentially measuring the number of months’ supply available. This metric helps us understand how long it would take to sell the remaining homes on the market if no new listings were added. Let’s delve into the specifics and gain valuable insights into the Huntsville real estate market.
To provide you with a clear perspective on the inventory trends, let’s consider the example of 2016. Back then, we had slightly over six months of inventory, indicating that it would take just over six months to sell all the available homes if no new listings were added. Fast forward to the current year, 2022, as we embark on a new chapter, we find ourselves with a mere 0.8 months of inventory. It’s important to note that anything under six months is typically considered a seller’s market. Therefore, since 2017, we have firmly established ourselves as a seller’s market.
Inflation and Its Impact on the Housing Market
In addition to inventory dynamics, I wanted to share a podcast episode I’ve been listening to lately, which specifically focuses on real estate. You can find the episode in the comments or the description of this post. The podcast delves into the topic of inflation and its significant influence on the housing market. Understanding this subject is crucial for all of us as we navigate the year 2022, as inflation’s effects are becoming increasingly noticeable. I highly recommend familiarizing yourself with this podcast episode to gain a deeper understanding of the topic.
The Huntsville real estate market has experienced notable changes in recent years. We have shifted from a buyer’s market in 2016, with over six months of inventory, to a seller’s market with just 0.8 months of inventory as we enter 2022. Additionally, it is important to keep abreast of the impact of inflation on the housing market, as discussed in the recommended podcast episode. Should you have any questions or require further clarification on the information shared in this post, please feel free to reach out to me via email, text, or phone call. I look forward to assisting you.