Number of weeks it takes to sell current inventory at present rate of sales.
Absorption rate is used as a way to track the “trend” of the market.
The figures used here are per Big Bear Multiple Listing Service.
What information from the MLS is needed for this market report?
- Number of listings (residential) all that are listed as Active, Contingent, Pending (in escrow) and
- Back-Up status (a contract on the property with a contingency)
- The number of sold properties for the previous month.
This Month’s Absorption Rate is: 24 Weeks