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Nationally Balanced, Locally Still a Seller’s Market
Today’s housing market isn’t clearly a buyer’s or seller’s market—it really depends on where you live. One of the best ways to measure who has the advantage is months of supply, or how long it would take to sell the homes currently available based on the current pace of sales.
Generally, less than 4 months favors sellers, 4–6 months is considered balanced, and more than 6 months tends to favor buyers. Nationally, inventory is currently around 4.6 months, putting the overall market in more balanced territory.
But real estate is local, and conditions can vary quite a bit from one area to another. Some markets are seeing buyers negotiate better prices and seller concessions, while areas with tighter inventory still favor sellers. Here locally, we remain well below the national average, with Ada County at approximately 2.1 months of supply and Canyon County at 2.5 months.
Based on inventory alone, that means our market still leans in favor of sellers, although buyers have more negotiating power today than they did a few years ago.
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