What is low inventory?
Over the past several years, real estate and the housing market have had their share of ups and downs. Now, there’s talk that the housing market is in recovery, which should be good news for everyone, buyers and sellers included. But now, as spring approaches, and the housing market prepares for the biggest season for real estate, is the housing market really in recovery?
A phrase has been thrown around a lot. This phrase is low inventory. But what does this mean? It’s simple, really. In the housing market, inventory consists of the houses that are up for sale. The more houses on the market, the greater the inventory. The fewer houses on the market, the lower the inventory. Thus, low inventory.
Low inventory is the…