You hear it everywhere - "it's a buyer's market". Well what would you do if I told you that "technically" it is now a sellers market?

The latest press release from HAR indicates that by definition if there is less than 6 months worth of inventory available it is a seller's market. September 2012 showed an average month's worth of inventory as 4.7 months.....as anyone can tell this is defniately less than 6 months. In fact, the amount of active listings is down 17% from last year.

As a buyer, this means you have less to choose from and perhaps can't look for homes at quite the leisurely pace you have done in the past few years. I have written before that nice homes move quickly - nice, updated homes at a good price are barely on the market in some areas.

As a seller, this does not mean you can ask whatever you want for your home and do little in the way of improvements and still secure a quick sale (we are not in California afterall). Habits are hard to break, and the "house hunter" generation still wants move-in ready and aren't very willing to compromise.

If you want all the details and stats, read the HAR press release below for more information

https://www.har.com/mls/dispPressRelease.cfm?MONTH=10&YEAR=12