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#883 - The Number of Active Housing Listings Hit An All Time Low During The Last Week of November
News For Reasonable People
English - December 14, 2021 11:00 - 25 minutes - 18.2 MB - ★★★★★ - 7 ratingsInvesting Business Entrepreneurship san francisco trending news protests defund the police antifa blm seattle conservative republican journalism Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
It’s official – housing inventory in America is at a crisis level. The number of active listings hit an all-time low during the week ending November 28, according to a Redfin report published on Wednesday.
During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019. The number of new listings was also down compared to 2020, dropping 4%, but it was 12% higher than the number of new listing during the same time period in 2019.
“The number of homes for sale typically declines another 15% in December,” Daryl Fairweather, Redfin chief economist said in a statement. “That means that by the end of the year, there will likely be 100,000 fewer homes for sale than there were in February when housing supply last hit rock bottom. I think more new listings will hit the market in the new year, but there will also be a long line of buyers who are queuing up right now.”
https://www.realtrends.com/housing-inventory-has-never-been-lower/#:~:text=The%20number%20of%20active%20listings,42%25%20drop%20compared%20to%202019.
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