Showings are really down over the last 30+ days – the current weekly average is -66%, compared to the first week of January.
But there’s just nothing left to look at today, unlike last year when inventory was much higher. The second half of this year had 35% fewer NSDCC listings than in the second half of 2020.
The 2022 demand should be very pent-up!
Why is there such an imbalance of homes for sale. My friend says it’s because there’s no new homes for sale that people can trade into do you think this is correct? 🤔
Hi Marge! We have the perfect storm of different variables that are contributing to our current market conditions.
For homeowners who bought their house brand new, the thought of buying a resale with no warranty and the potential for having to repair/upgrade the home is daunting. Some people will only buy a new home, and many have bought several over the years – the thought of buying a resale feels like going backward to them.
We’ve never known a market without new homes, so it’s hard to imagine the full impact. But it definitely contributes to the buyer frustrations – which are many and starting to stack up!