Henri Gourd 914-954-3897 henrigourd@bhhsne.com MARKET PULSE We use several metrics to answer the question "How's the market?" One of the most useful, but least understood is called month's supply, also known as absorption rate. It compares the inventory of homes for sale to the rate at which homes are selling in any given market. So if there are 100 homes for sale and on average 50 homes are selling per month, there is 2 month's supply. The faster homes sell, i.e. the lower the month's supply, the more it is considered a seller's market. If homes are taking longer to sell, buyers have the upper hand and it is a buyer's market. A balanced market is one where there is enough demand from buyers to meet the supply from sellers. This number will vary from market to market but is usually somewhere between 3-6 months. That is the length of time any given home will be on the market. before a close-to-list price is offered. In New London County, the month's supply fell steadily from 5.5 months the beginning of 2020 to 2 month's supply today reflecting what we all have seen as the seller's market. Increasing interest rates are providing a headwind, slowing the intensity of buyers' bids and will likely be instrumental in a rebound to a more balanced market. BERKSHIRE HATHAWAY Home Servi New England Properties Selling it all, from cottages to castles! Henri Gourd 914-954-3897 henrigourd@bhhsne.com MARKET PULSE We use several metrics to answer the question " How's the market ? " One of the most useful , but least understood is called month's supply , also known as absorption rate . It compares the inventory of homes for sale to the rate at which homes are selling in any given market . So if there are 100 homes for sale and on average 50 homes are selling per month , there is 2 month's supply . The faster homes sell , i.e. the lower the month's supply , the more it is considered a seller's market . If homes are taking longer to sell , buyers have the upper hand and it is a buyer's market . A balanced market is one where there is enough demand from buyers to meet the supply from sellers . This number will vary from market to market but is usually somewhere between 3-6 months . That is the length of time any given home will be on the market . before a close - to - list price is offered . In New London County , the month's supply fell steadily from 5.5 months the beginning of 2020 to 2 month's supply today reflecting what we all have seen as the seller's market . Increasing interest rates are providing a headwind , slowing the intensity of buyers ' bids and will likely be instrumental in a rebound to a more balanced market . BERKSHIRE HATHAWAY Home Servi New England Properties Selling it all , from cottages to castles !