Inventories drop, here’s your window
The number of properties on the market has dropped to 2.38 million, the fewest since March 2005. At the current sales pace, it would take 6.2 months to sell those houses, down from 7.2 months at the end of November. A pickup in sales and a drop in foreclosures has helped. With over 5 million properties either in foreclosure or with delinquent mortgages, many more properties will come on the market later this year. Right now is a window of opportunity to sell while fewer homes are for sale and coming into the spring buying season. Not to mention mortgage rates are still low.