Home sales and demand are heating up in LAFAYETTE, CA. Home sales have been exceeding new inventory for several weeks. Therefore, one can see that Total Inventory is trending downward.
The Market Action Index or MAI answers the question “How’s the market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer. The LAFAYETTE market is currently in the Buyer’s Advantgae zone (at 25.24 this week), though not strongly so. Since this is a Buyer’s market prices are not yet moving higher as excess inventory is consumed. However, as supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing after the adjustment of inventory.
Thinking about listing your home or gauging the housing market as a potential buyer? The above statistics (among others) are absolutely crucial for understanding the real estate market.
To enjoy access to market stats and trends simply SUBSCRIBE TODAY to the right of this article or at the bottom of this page. Not only are the stats constantly updated in real time and reader friendly, but the subscription is available to you at no cost! There is no reason to wait around for market information or to hear about today’s market second-hand. Start being proactive today!