Information You Need To Know
You may have recently read or heard about a large increase in the number of new listings on the market. Yes we did seem more people listing their homes but the number needs to be put in perspective. If there is only 1 home for sale and then someone additionally puts their home up for sale so now there’s 2 that’s a 100% increase. We are coming off a very low base so ant increase seems large. The indicator I look at is the months of supply. This is simply a measure of supply/demand. 6 months is considered a balanced market. At the end of April, this number stood at 1.2 months. The new supply raised the number to 1.5 months at the end of May. We are still a very long way from the 6 months considered a balanced market.