Well sick is the right word but not as the author intended. I just checked listings in my community of over 1,000 homes. There are usually 15 to 20 homes on the market at all times. The most that were ever on the market was about 35. Even in the craziest time of the market in late 2003/early 2004 there were always 5 to 10 actives. Today there is one house on the market. The house has 10 ft of backyard and a 6 lane road behind it making it the hardest to sell location in our community even tougher than under powerlines. Inventory is essentially zero.
Here’s another data point. Went out with new clients last week who are looking up to mid 700’s in CV (not likely for what they want) but very doable in PQ, Scripps or 4S areas. After learning their likes/dislikes on Tuesday I sent them 5 houses that had been listed in the last day or two. Today four of the 5 are in escrow.
Additionally in the last 24 hours I have gotten calls on every short sale listing I have from agents with buyers wanting to submit back up offers.
It’s on!
