Part of my daily routine as a Realtor is looking at the multiple listing service to see how many new listings have come on market that day. During busier periods in the year, it’s tough to keep up with all of the homes coming on (and going off) market on a day to day basis. Lately, though, it’s been fairly easy to keep track: today, when I looked at new listings, for example, there were only 22. Of those, 11 were new construction and 11 were ‘resale’ homes. The new build listings are placeholders for different models within communities, and may not represent an actual address. In the meantime, 14 homes went under contract today, which means that there are three less available homes at the end of the day. So, the chart below showing that inventory is dropping? It makes sense.
Cheers,
Heather
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