Doesn’t seem like we are going to get any more inventory out this year. It usually peaks in June, drops gradually until September, and drops more sharply after that to the low in December.
2016 was an abnormal year because inventory was drawn down throughout the whole year, whereas this year we are more on track for a normal seasonal pattern. However the pattern is squashed, since we gained only 400 listings from January to June instead of the average of 800.
Also weekly numbers courtesy of the VREB.
|Wk 1||Wk 2||Wk 3||Wk 4|
|Sales to New Listings||59%||66%||69%||
|Months of Inventory||2.2|