Month-end Inventory was 27% below its 10 year Average — BECAUSE Sales were SO HOT SO EARLY in the year — no one waits for “the crocuses/daffodils to appear”
NEW LISTINGS and a quick look at the Terminate + Immediate RE-List Listing strategy that undermines the New Listing (and its ratios).
The RED LINE shows NEW LISTINGS but Net of an Est 15-23% Double-counted Terminate + RELIST properties.
AT BEST March’s NET NEW Listing are very close to 10 yr average and the published Gross number over 20,000 is almost a chimera/ composite. Most would agree the first ~two weeks were stronger than the ~two weeks after March School Break
EARLY SENTIMENT: First 6 days of APRIL – compared to first 5 days of March – is showing TERMINATES as a % of ACTIVE (we only get reliable NEW LISTING numbers at Month’s end) moving from 16.74% to 24.53% in early March to 27.67%- 40.81% now …. up about 65% in a month
PACE of March — tricky, it’s in transition and we dare not jump to conclude WHAT will be next
Days on Market — says Super Hot 55% UNDER the 10 yr
TrREB’s chart days same thing – TWICE
MONTHs Of Supply (at current rate of Sales) says Very Hot, but shows a Tick up as Grandma and Grandpa put their home for sale just as the number of Spring Purchasers cools a tad
Ron Hauth ‘s#8 Shows Months of Inventory AND New Listings since 2007
Finally Sales — repeating two charts from other posts for the 10 yr angle
Overall TrREB is 15.74% above the 10 yr
905 is +15.17%
416 is +18.37%
unclebobexplains 