How to know the Real Estate market is rebounding

While most of us can’t predict when the housing market will rebound - there are signs that will tell us it is turning upwards.

These leading indicators are:

Inventory - As more people buy, the inventory drops. Right now the supply of homes on the market is high. In North Dallas, a 6 to 10 month supply of homes indicates a balanced market. When our over supply starts dropping, we’ll know the market is rebounding.

Time on the Market - The average time that homes are on the market is an good indicator of market conditions. As inventory drops, so should the time on the market. An average time of less than 140 days in healthy for our area.

Prices - We’ll know the real estate market is gaining strength when home prices start rising again. But I like to say that in today’s market, flat is the new up. [where: 75230]