Supply and demand right?
Is it a buyers Market with no Buyers?
or
a Sellers market BECAUSE there are so-few Sellers?
With so much Bad news abounding and with Central Banks Stalling on beginning of Rate cuts…
How can Sales be off by so much and yet Prices are Stable?
Prices — 2nd Highest March $1,121,615 up a tiny 1.66% Mth/mth and tiny 1.17% Yr /Yr
Prices tracking Last yr trends
Sales OVER 2 million are 6.10% of Overall (in keeping with 4 & 6 yr Averages)
Sales are 31% below the 10yr ave
Sales on School Yr chart demonstrates how FAR BELOW average sales (22nd of 29 Marchs) are … BUT Prices Edge up
Short Supply vs Diminished Demand
MONTHS of Inventory only 1.90 months
Inventory
Equals the March 10 yr
9% ABOVE the 5yr
16.83% BELOW the 16yr Average
New Listings are 17.60% below 10yr
NET-NEW Listings are 32.86% below 10 yr
SNLR traditional is 50% = balanced
After subtracting RE-Lists (can only be sold ONCE)
Suggests Seller’s market 61.37% Sales to NetNew Listings
TRREB’s 13,120 NEW is throwing everything off
Subtracting TRREB’s 2,430 Re-Lists
New is 10,690 (18.5% as they say)
I say more likely 9,690 to 10,000 about 27.6% less
Days on Market — Trending MUCH lower
but 35-40% HIGHER than in 5 &10 yrs prior
AFTER INFLATION — are prices higher?
How long until the Current Nominal (as inflation creeps in) equals the Prior Peak?
thus bringing all Sellers out from Under Water?
Composite comparison … Surging
unclebobexplains 