I bet John Lundin had 10 houses sold by this time last year, for every 6 he sells this year. That was my point. I know that thousands of homes are still sold every day in California. Just a lot fewer than last year. I’m certain the same holds true for our friend sdr. He may have had some sales this year, but they are likely 35% fewer than last year, so his income is likely down 35% vs. last year. And unless he corrects us, with data, that’s how I see his situation.
Realtors may get a false sense of security by having more listings, as listings have skyrocketed. But listings don’t mean much. It’s the sales that matter. Finding a buyer/seller combination, where the seller is reasonable, is the key, and those are much harder to get. The sellers digging in their heels is keeping sales so low. So any realtor who thinks they will have a good year because they have a lot of For Sale signs is going to have a bad awakening. Days on market and inventory portend a slowdown. Having a listing just adds more work, and doesn’t guarantee a sale at all. Most listings probably expire, as the seller will not accept today’s market price. It’s a very worrisome time to be a realtor now.
Doesn’t zillow or moveup.com have selling prices? It takes a few weeks after closing for the data to be recorded, and then show up on the online databases. Local data show sales price is 95% of list price. The data doesn’t tell us what types of homes actually sold (was the price more realistic, the home more desirable, away from busy streets?).
