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Absorption Rate
Posted on August 28, 2009
Many of you may have heard the term "absorption rate" from a Realtor. The "Rate of Absorption" measures the inverse of "Months of Inventory" and represents how much of the current active listings (as a percentage) are being absorbed (or sold) each month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, the rate of absorption would be 10%. 10% of the market is being sold in that given month.
The following chart shows the rate of absorption for all of Snohomish County over the past 15 months. As you can see, the number for July 2009 is about double the number for July 2008. This shows how much stronger our market has become from a year ago. Prices have changed, interest rates have stayed low, and the $8000 federal tax credit has had a huge effect in our market. Give us a call if you need more details on this. The clock is ticking...soon that credit will expire, so the time to act is now.
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