In the first four months of this year, the market was a bit lethargic with more new listings and fewer sales than in 2015.
The trend was reversed in May, with fewer new listings but more sales, YoY!
Year | ||
2012 | ||
2013 | ||
2014 | ||
2015 | ||
2016 |
All it means is that more participants were able to agree on price for a stretch.
I don’t think buyers are intimidated by the lack of inventory any more – they’ve learned to live with it, and are willing to be patient. But they have their eye on the calendar too, so there could be a flurry of activity in June as families want to get in and get settled before school starts again.