Source: Housing Wire —
Blink and you’ll miss your dream home. So few single-family homes are for sale in America that just two months of inventory is available across the top 100 metro areas in the country, a historic low.
That’s according to Black Knight, which just released a white paper that studies how long it would take to sell all the homes currently listed for sale in a given market based on a prevailing sales rate, if no new listings are added (a metric it calls “months of remaining inventory”).
“Historically, markets maintaining four to six months of inventory would have been defined as being in equilibrium,” said Michael Sklarz, managing director of the Collateral Analytics division of Black Knight.