Weekly Special | October 12, 2020

New Sellers Finally Entering Market?

The number of new listings entering the market might be turning towards growth as two of the past three months have seen the year-over-year fresh listings rise.

The graph above shows a comparison of how each month fared (percentage wise) compared to the same month in the prior year for fresh new listings entering the MLS.

I use the term “fresh” to describe homes listed for sale that were not previously listed. These are homes that are truly new to the market, not merely old inventory that was canceled and relisted by the agent or a new agent.

The year started off well with new sellers entering the market, but then COVID kicked in and caused inventory to move much lower.

The past three months have recorded exactly three more fresh listings than in the same three months of last year, so perhaps we’re seeing pent-up supply starting to release.

I’m hoping this is a sign that people who want to move are noticing friends and families safely selling their homes and moving to new ones in order to take advantage of the lowest mortgage interest rates ever recorded.

If you have been waiting to sell your home, now is the time. Buyers are standing by and you’ll get top dollar.

The original one-page Weekly Special PDF is still available.