Housing Supply and Demand in Valrico FL
Housing supply and demand in Valrico FL has been showing tight supply for a while and may get tighter. Besides the fact that supply has been generally tight, Valrico FL has caught the eyes of buyers for good reason First how is housing supply and demand determined?
Months Supply Determines Either Buyer, Seller or Neutral Markets
The lower the number of months determines the intensity of the seller’s market and the hight the number of months above 7 determines the intensity of the buyer’s market. You have heard it said that all real estate is local, so now we can take the housing market of Valrico FL as an example.
What The Numbers Mean
Looking at the May 2019 numbers for Valrico Fl, notice that May was 1.4 supply with a 5 year average of 1.9. If six months is a “neutral market, we can see that for every house on the market there are 3 buyers for that market. All markets are not the same so now we compare a nearby market and supply for that area.
Brandon Fl Months Supply
First, we must understand that although the image looks dramatically worse for Brandon than for Valrico, 2.2 months supply is an excellent market. Also, this is a snapshot of one month. A housing statistics rule is 3 months makes a trend, so next month we could see a reverse between the two markets.
Valrico YTD Supply Trend
Brandon YTD Supply Trend
The two charts below are a good comparison of adjoining market areas. Valrico shows an inventory increase of current supply in July 2019 and Brandon shows a slight decrease in inventory. But, Valrico has had more absorption than Brandon.
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