Weekly stats update courtesy of the VREB via Marko Juras.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||71%||69%||74%||
|Months of Inventory||
The bump in inventory last week seems to have been temporary.
Dasmo says “this market IS mostly about home owners not selling. It seems the crazy low inventory has less to do with insane sales numbers than low listings…. The recent price gains would feel more solid if the low inventory was because of huge sales numbers but it’s not.”
However can’t really say the data agrees. Sales are at record highs and that’s the main reason we’re in this market. New listings are middle of the road. Below recent years but above the levels of earlier in the 2000s and late 1990s.
Last time it took a good 5 years of hot market for the new listings really to pick up. Sooo… Maybe 2020?