Supply & demand · Home sales and listings
Months of supply
How long current inventory would last at the current sales pace — the standard balance measure.
Months of supply divides active inventory by the monthly rate of sales: it is the time it would take to sell everything listed if no new homes came to market and sales continued at the present pace. Roughly four to six months is conventionally treated as a balanced market, less as a seller's market, more as a buyer's.
It is a ratio of two moving quantities, so it can shift sharply because sales slowed rather than because listings grew. The familiar four-to-six-month benchmark also comes from national historical averages and fits some regional markets poorly.
Also known as: months supply, absorption rate, supply of homes.
See months of supply in the data
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Months of supply — FAQ
What is months of supply in housing market data?+
How long current inventory would last at the current sales pace — the standard balance measure. Months of supply divides active inventory by the monthly rate of sales: it is the time it would take to sell everything listed if no new homes came to market and sales continued at the present pace. Roughly four to six months is conventionally treated as a balanced market, less as a seller's market, more as a buyer's.
Why does months of supply matter?+
It is a ratio of two moving quantities, so it can shift sharply because sales slowed rather than because listings grew. The familiar four-to-six-month benchmark also comes from national historical averages and fits some regional markets poorly.
Where does this housing market data come from?+
Sales, listing and inventory figures come from Redfin's public housing-market dataset, which is compiled from multiple listing services. Coverage is limited to the metros and counties Redfin reports. pumsdata is independent and not affiliated with Redfin.