Video Dictionary Blog (vlog) by REALTOR® JenKlein – Defines absorption rate-
Absorption Rate defined by Investopedia “The rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the average number of sales per month. The figure shows how many months it will take to exhaust the supply of homes on the market. A high absorption rate may indicate that the supply of available homes will shrink rapidly, increasing the odds that a homeowner will sell a piece of property in a shorter period of time. “
In both Roseville and Rocklin, the absorption rate for last 12 months has been around 1 month of inventory. A traditional or healthy market is said to be when their is roughly 4-6 months of inventory. For last month, (see Roseville and Rocklin Real Estate Scoop), Roseville was closer to 2 months of inventory. Which is higher, but by no means a buyer’s market! However this should provide some relief for buyers. We are seeing inventory sit a bit longer and more price reductions than in months passed. This could be a direct reflection of the creep in interest rates. Some buyers are being pushed out of qualifying because they can no longer qualify for their payment under new interest rates and premiums.
Search homes in:
Roseville: Blue Oaks, Champion Oaks, Crocker Ranch, Diamond Oaks, East Roseville Parkway, Fiddyment Ranch, Highland Reserve, Johnson Ranch, Maidu, Morgan Creek,Pleasant Grove, Olympus Pointe, Quail Glen, Stanford, Westpark Village, Woodcreek Oaks
Granite Bay: Ashley Woods, Douglas Ranch, Folsom Lake Estates, Granite Bay Hills,Greyhawk, Hillsborough, Kingswood Village, Los Lagos, Shelborne Estates, Stoneridge,Treelake Village, Wexford Estates, Winterhawk