Posts from June 2021

I've been doing this a long time, and even I have to say the housing market is crazy, even for me. Regardless of who you talk to, people will tell you that the biggest challenge we are facing is that "There is no inventory". Au contraire mon frère. Yes, we are just about measuring time on the market in nanoseconds, but therein lies the true challenge rather than the perceived challenge. Hear me out…

Let's talk stats. For the period June 2019 to June 2020, the MLS reported 5,746 residential sales in the Tri-county area, lasting, on average, 78 days on the market. From June 2020 to June 2021, there have been 6,324 residential sales. How could there be an inventory problem if sales are up 10% year over a year?! Do homes have to be listed in order to be sold?! Am I right or am I right? Here's the difference. For that same period, the average days on market dropped from 78 to 57!