Inventory and Economics. Experiencing the Lesson First Hand.
Posted by Jeff Brooks on
If the Real Estate catchphrase of 2012 was “interest rates” 2013 will be “inventory”. So far it’s been a fantastic and frustrating 2013 for us realtors here in Newport, and per the media, we’re not alone. Inventories nationally are at 13 year lows. As I mentioned in a blog post back in November, inventory levels were continuing to decrease, pointing towards a renewed seller’s market. Looking at charts here in Newport County the trend doesn’t seem to be changing.
These charts make me think back to my Economics Classes at Saint Anselm College with Professor Romps, specifically about supply, demand and the “invisible hand”. Prof. Romps was a 6’3” 280lb angry 65 year old man. It was impossible to fall asleep in his class even at 9am on Friday. In…
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