Thanks to Marko for providing the numbers.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||
|Months of Inventory||
Sales are 15% ahead of this time last year but new listings are up just a smidge more. This is the first time I’ve seen in a long time where the sales to list is not up year over year. Given that we’re going on 2.5 years of continuously improving market conditions, at some point it can’t go on. Maybe this is the start of a stabilization.
Lots of overvaluation talk in the media these days. It seems that the argument is less over whether there’s a national correction coming, but who will be screwed, and to what degree. Of course depending on your point of view that media salivating might be just a buying indicator.