Months it would take to sell all inventory in the U.S.
I know you have seen plenty of news about how we are entering into another bubble again, but I thought I would just provide these graphs to show how our local area is being affected.
As you can plainly see from the graph, mortgage rates are at all time lows and that combined with low inventories sprinkled with high demand is making for a very competitive buyers market with multiple offers being the norm.
In order to show how this is affecting us locally, I included this chart showing the inventories in our local area. In Santa Clara County, there are currently 1087 active listings, 2040 sales pending and we are currently at about 3 months of inventory (months it would take to sell all listings).
Current as of March 6, 2013.
