The Regional Multiple Listing Service (RMLS) report, released monthly, is filled with statistics, sometimes a little unclear and only give part of the picture as to what is happening in real estate. Real estate is very local and neighborhood-based, so understanding about different areas helps put the numbers into perspective.
A balanced market is 5-7 months of inventory. The Vancouver/ Clark County area is in a balanced market, holding steady month over month at 6.8 months of inventory on average for June 2010. For this same time last year, in 2009, the average inventory was 7.9 months, and for 2010 so far, the average monthly inventory is 8.6 months.