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Months of Supply Inventory inches toward a more balanced market

Tips for Buyers

Months of Supply Inventory (MSI) quantifies the supply/demand relationship by measuring how many months it would take for all current homes listed on the market to sell at the current rate of sales. The long-term average MSI is around three months in California, which indicates a balanced market. An MSI lower than three indicates that there are more buyers than sellers on the market (meaning it’s a sellers’ market), while a higher MSI indicates there are more sellers than buyers (meaning it’s a buyers’ market). Notably, single-family home MSI has climbed significantly over the past four months, almost reaching three for the first time since May 2020, which was an anomalous month due to the early days of the pandemic. Condo MSI rose but remained well below three months, indicating that condos may be trending toward balance as well, but at a slower pace