The impending ‘upgrade’ of the MLS starts today at noon, and last until Monday. It will screw up my stats for usual Inventory Watch on Monday morning, so here’s a mid-week preview.
Today there are 491 NSDCC detached-homes in escrow, which the highest number I’ve seen. The huge number of pendings isn’t due to escrows not closing either:
NSDCC Detached-Home Sales, September 1-15
We still have late-reporters too, so this year’s count should get up close to 160!
But you can feel the slowdown coming, and I think it’s purely because there aren’t more houses coming onto the market. We already had the lowest number of August listings in recent history, and the rest of 2020 probably won’t get any better:
Are sellers waiting for the 2021 selling season? Probably! Buyers will be waiting!