The current Housing Inventory in Gresham is 2.76 months, and Gresham has been experiencing a buyer's market since June 2023. Next, let's use the Housing Supply and Demand trends to try to predict the future of the Gresham Housing Market. Using the current activity and the trends, I expect this buyer's market to transition into a less aggressive buyer's market around March 2024. Basically, more similar to March 2023 than March 2022.
The ideal real estate market would have 1.00 month of Housing Inventory, meaning Housing Supply perfectly satisfies Housing Demand. For this graph, that would be the orange and purple lines right on top of each other. Again, that's the ideal. In reality, even when Housing Supply equals Housing Demand, it's still a seller's market because the collection of homes available for sale might not fit the needs of those home buyers. This is why we can still have bidding wars even with 1.00 month of inventory. A significant separation between Housing Supply and Housing Demand means an unbalanced real estate market, creating a noticeable buyer's market or seller's market.
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