The Pinkerton Woman
.... New Jobs ....
Historically, one new home owner is created for every two new jobs, so if job creation continues in your area and builiders are scaling back on production, it's just a matter of time before the supply and demand equation moves toward equilibrium.
.... Fewer Builder Concessions ....
Look for new home builiders in your area, as a sign of new confidence, to curtail their offerings of free mortgage payments, new toasters, designer landscaping, and other concessions they rolled out at the start of the downturn.
.... Months' Supply ....
The country had about a 10-month supply of housing at the end of last year, but the fiqure you're interested in is the months' supply for your market. The historical norm is closer to six months.
....Visitors per listing ....
Look at the visitor trends tracked by the local MLS (Multiple Listing Service) using today's technology. You can see not only how many visitors viewed a house but how long they stay: more visitors staying longer suggests buyers are getting serious.
.... Rising Apartment Rents ....
Healty rental rate increases show strong demand for rentals, but if such increases go on for too long or rates rise too steeply, renters will start inquiring about buying.
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Classic Realty