I saw a great chart from Invest Success last Friday showing the number of new listings per week versus the number of pendings each week and the number of closings per week over the last 8 weeks. This was AMAZING TO SEE! For example, last week new listings were 26% LOWER than both closings and pendings. WOW!!!
We ended August with only 5,135 active listings for sale. In the first 2 weeks of September closings have outnumbered new listings by roughly 1,000 homes! And this would put active inventory as of September 10th at only about 4,200 homes. If this trend continues we could run out of homes to sell by end of October. And home prices will continue to SOAR!.