Authored By: Jo Soss : WestSoundLive.com
The Definition of Absorption Rates:
Number of weeks it takes to sell the current inventory at the present rate of sales. Using absorption rates can help you define markets. My definition breaks down like this…
Normal Market - Between 5 and 6 months of inventory. (21.65 - 25.98 weeks)
Seller’s Market - Between 1 and 4 months of inventory. (4.33 - 17.32 weeks)
Buyer’s Market - 7 months and higher. (30.31 plus)
Now remember that absorption rates just track trends and isn’t an exact science! Here is the absorption rate trend for 2008.
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Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved
Author:Jo Soss
Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.
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Jo,
You always provide such helpful information for your consumers.
Cynthia, thank you so much!
I agree. Do you use sold homes, pending homes, or both for your data analysis?
Marty, I only use sold homes. You just never know if pending will become "sold". :)