Quote:
Originally Posted by Craig Vernon
Good Day Grandpap,
I am not sure how many homes are built by TV in a month but the number of available new builds is usually kept at around 300 ready for sale spec homes. The VLS currently has 604 preowned and 299 new built active listings for sale.
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I didn't break down the new to preowned, so let's say 1200 preowned combined VLS and MLS. Now if we take say 240 homes sold per month, we are looking at 5 months of inventory, which is about average. That's at the high end of "average" and considering where we've been over the last 3 years, this is a concerning trend.