Historically, when prices start reaching new peaks, we see more homes come to market. This time around though, sellers have been reluctant for a variety of reasons, and inventory has been tight.
These are the total number of detached-home listings that hit the MLS between June 1 and September 30th.
NSDCC Summer Inventory (June 1 – Sept 30)
| Year | |||
| 2012 | |||
| 2013 | |||
| 2014 | |||
| 2015 |
It’s not a big increase (7% higher than last year), but could it be a precursor to what we might see next spring?
Easier credit, lower down payments, attractive rates, yet…..
http://www.bloomberg.com/news/articles/2015-10-29/pending-sales-of-previously-owned-u-s-homes-unexpectedly-fall
Elective sales and MUST sell.
In the absents of new product, The market may be made by the must sells.
But the Elective inventory could disappear in a heartbeat.