I do the Market Memo each week.
Here it is from yesterday.
I noticed while doing the memo that fewer people than I expected have been putting their homes on the market . I also noticed that there seemed to be fewer houses going into contract, (pending). So I took a look at the last five years to compare.
Here is the table below showing those five years.
As you can see, the total pendings for this year are lower than the last two years but not really out of line for the last five years.
What is different is the amount of new listings. Why have so any people kept their homes off the market compared to the last five years? I don’t have a good answer to that…do you?