Interesting information below from the Cromford Report stating that new listings are coming to the market at a slow pace. What does this mean if you are currently trying to sell your home or thinking of selling your home? It means less competition for you! It's a great time to put your house on the market because there is a smaller supply of homes for buyers to choose from.
According to the Cromford Report, "New listings are continuing to arrive during August at the slowest rate this millennium. The current 28-day rate is 14% below last year and 10% below 2012.
Total active listing counts, including UCB, have continued to decline throughout August, a pattern which we do not often see. We saw a similar thing in 2003 and 2004 as the bubble expanded and also in 2008 at the height of the market collapse, when active listings had just reached an all-time peak. We also saw it 2011 just before the start of the recovery. So this is the 4th year of 14 in total.
New supply is coming at such a low rate that a decent uptick in demand could send the situation straight back into the seller's market we had from 2011 through 2013."
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