The year 2015 wraps up tomorrow!
We saw last week that the annual count of NSDCC detached-home sales already exceeds the 2014 total. By the time the sales from this week are recorded (and the late-reporters chime in) the 2015 sales will be about 5% higher than last year’s count – in spite of higher pricing!
Higher prices = more sales??
More sales = higher prices??
The additional action was made possible by more homes coming to market.
New-Listings Count – Annual, 2nd Half, and 4th Qtr:
|Incr over 2014|
All signs are pointing to the inventory increasing next year – will a larger selection of homes for sale inspire more buyers to buy?
If so, it means more sales – and a faster rate of appreciation if each sale is slightly higher than the last.
Or will a surge of over-priced listings cause the market to stagnate? If there are more OPTs stacking up, it makes it more obvious to buyers that the prices are wrong.
I think 2016 will be the most interesting yet – especially if we get mortgage rates bumping up faster than expected!