• calendar_month September 8, 2022
• folder Absorption Rate

I'm going to keep the theme or my blog posts consist for a little while for you guys. I am going to keep exploring and analyzing the housing market using data and statistic because there seems to be a lot of noise of where we are and where we are headed without actual data attached to it. Every time I talk to anyone who knows I am a real-estate professional or discovers I am lately I get hit with the same questions, "What's happening to the market, when are we going to see the crash". Well let me allow the numbers to answer this for you... each week I will look into a different city, last week was Glendale, CA., this week is Burbank, CA. The reason I am choosing to do this by city is because while we have state and county stats and this gives us a broad idea it's not very useful because the housing market is after all, all about location, location location.

So let’s dive into Burbank, CA. In Burbank we are at a 67% absorption rate based on the number of current active homes on market (113) and the closed sales in the last 30 days (76). Anything above a 20% absorption rate is considered a healthy market so as we see Burbank, CA is still staying firm in a very health housing market! Take a look at the break down of the numbers below....