Wednesday Fun Fact: Rate of Absorption, or ROA, is how long it takes for the current inventory of homes on the market to sell. In most markets, four to seven months is considered a balanced ROA; a sellers market is considered to take less time than this, while a buyers market takes longer. Knowing ROA and inventory trends are not just fun facts to tell your friends and dinner party guests. This number actually helps us price smarter, make better offers (or reject poor offers), advertise more effectively, and gives us useful information to share with our clients. Right now in Louisville, Ky we are pretty balanced at 4.3 months. Typically we see a surge in inventory in March, but the winter that wont quit may be holding us back. We had a spring snow yesterday and it was 21 degrees this morning. Im ready for Spring!
Posted on: Wed, 26 Mar 2014 15:01:27 +0000
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