[quote=CA renter]
Because in an **inventory constrained** market, the few listings that are out there are tne ones we have to contend with. Anything that is fairly reasonably prices has multiple offers within a few hours. It’s not nearly as easy as you might think, AN.[/quote]
Why not just view those property as not for sale. It would mean that your supply pool is even smaller, but essentially, that’s what it is. They don’t need to sell, so they’re just putting it out there. I know a few people who are like that. They don’t need to sell, but if someone is will to buy it at their asking price, they’ll sell it. So, for most people, those houses should be counted at all.
Oh, I know about the multiple offers. I’ve been in enough bidding war to know. But as the close price shows, even after the multiple offers, it’s still well bellow those wishful listings you posted.
Maybe you should take a step back and look at it different. Don’t view all the property on the MLS as property for sale. I removed short sales that already have offers, I removed wishful listings. The remaining inventory is what I would consider, true inventory.
With regards to wishful listings, how many people do you know that would knock on any house they like and ask the owner if they would like to sell? These wishful listings are in essence, a way for owners to say, you don’t need to knock on my door, I’m tell you I’m willing to sell, but only at my price. If you don’t like the price, don’t bother.
