Sandicor released its table, showing the number of new listings was quite a bit higher in January and February. The year started out with similar # of closed sales, but decreased much after that.
” Every time a home is relisted it counts as a new listing and we have homes that have been listed 2 or 3 times this
year. Remember 42% of this years listings have expired,
cancelled or withdrawn from the market and the overwhelming majority of these re-list as new listings.
The poor newspapers get their information from this report and we wonder why they report the way that they do!
The growth in inventory has come from reduced sales not more homes being put on the market. That is why it keeps going up and by the end of the summer we could be approaching 25,000. The holiday season will take homes off the market and we probably will see some decline but the sales will drop as well, if they can go any lower.”
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