inventory

June 2008 New Albany, Ohio Market Update

New Albany Home sales in June increased over May by 45% (31 homes in June vs. 21 homes in May).   "Low interest rates, high inventory and competitive pricing continue to fuel the housing market here in central Ohio," says Greg Hrabcak, President of the Columbus Board of REALTORS®. "As long as we have these three critical factors in place, home buyers and investors are actively pursuing a home...

Absorption Rate in New Albany

Yes, absorption is the correct term for Sponge Bob's ability to soak up water and the same holds true in the real estate industry. In real estate, the absorption rate is the amount of time, generally expressed in months, that it will take a market to "absorb" the current inventory based on recent history. In other industries, this measurement may be called turnover rate or simply weeks or months of...

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