A healthy housing market, balanced between buyers and sellers, is considered to be one with about 6 months of inventory. Today, there is just a 4.6 month supply, but at the same time, many homes on the market aren’t moving — they’re going stale (where “stale” is considered anything that’s been on the market longer than a month). According to CNBC two things are driving this, both artifacts of the housing bubble and bust. First, everyone is more data driven, and data is more widely available. Second, the housing market is now seeing the kind of herd mentality we’re used to seeing in the stock market. Are you missing an opportunity, on either side of the buy–sell equation, because you’re caught up following the herd?
Theresa Springer’s Blog
Spring Housing Market Stifled By Herd Behavior
April 24, 2015