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Existing Home Supply measures the months it would take to sell the complete inventory of existing homes at the current pace of sales.
Existing Home Supply describes how much time it would take to deplete the complete U.S. inventory of existing homes for sale, given the current sales pace.
Published by the National Association of REALTORS®, home supply measures the market balance between home buyers and sellers. When supply is low or high, it connotes a Seller’s Market or Buyer’s Market, respectively.
Existing Home Supply is published monthly as part of the larger Existing Home Sales report, including median sales volume, median home sale, and housing inventory.
Existing Home Supply is calculated by dividing the total number of existing homes for sale at the end of the month by the monthly sales pace of existing homes. The result is expressed in months.
When home supply is low, it indicates a seller’s real estate market, characterized by limited inventory for buyers to buy and potentially higher housing prices.
Existing Home Supply is a different way to measure home inventory. Home inventory counts the number of homes available for sale whereas home supply measures the number of months it would take for buyers to purchase all of those available homes.
The Existing Home Supply report is updated monthly as part of NAR’s broader Existing Home Sales report, usually during the last week of the month.
Existing Home Supply exclusively pertains to existing home inventory and does not include new home construction. It includes single-family homes such as detached properties and condos, and multi-unit homes.
Existing Home Supply reflects the balance between home buyer and seller behavior; a low supply often means higher competition among home buyers, including first-time home buyers, while a high supply indicates more options for buyers and potentially less competition.
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Existing Home Supply measures the months it would take to sell the complete inventory of existing homes at the current pace of sales.
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