December Inventory Round Up

Here are some amazing charts. Normally we like to see inventory levels between 4-6 months in a healthy marketplace. Anything over 6 months is a buyers market.

First lets take a look at Davis County:

West Bountiful seems to be the best place to sell a home. It's the only place that isn't a buyers market. Granted, it is a small geographic area and there arn't too many homes for sale there. What is shocking to me is that inventory levels for bread and butter communities like Woods Cross and West Point are over TWO YEARS! This is not good for those communities. I expect these neighborhoods to be shell-shocked with foreclosures as job losses mount for 2009. Keep your eye on buying opportunities there.

Here is Weber County:

Weber County has a lot of small little communities that are incorporated as cities so the list is longer here. There isn't a community in Weber County that is not a buyers market right now. I am surprised here by Riverdale (6 years of inventory) and Farr West (5 years of inventory) being so high in inventory. These cities saw huge developement over the last four years. Most of the developments were large (2800 SQFT+) ramblers with two or three car garages. I guess the people who moved up into these neighborhoods are needing to move down again. Look for more buying opportunity as sellers lose jobs and banks cut prices to move inventory.

Let me again express my shock as these figures. My brain is trying to handle talking about inventory in measures of years instead of months.