Redfin: Don’t Expect The Inventory Of Homes For Sale To Rise Anytime Soon

Redfin has posted some interesting data, telling us that the inventory of homes for sale, especially in the San Francisco Bay Area, isn’t going to be rising anytime soon.

2012 didn’t give us a Spring bump and it looks like 2013 will play out the same way.

From Redfin:

Surprisingly, despite the fact that the new year typically kicks off the “selling season” for real estate, the percentage of respondents who indicated that they were selling “right now” was sliced nearly in half from the fourth quarter—falling from 31% to 16% this quarter. Most of that loss was made up in the share of homeowners who intend to sell in the next six months, implying that this year’s selling season will get a late start.

Redfin Seller Survey 2013 Q1 SellingTimeline 640x285 Redfin: Dont Expect The Inventory Of Homes For Sale To Rise Anytime Soon

For the first two weeks of 2013, the number of new listings on the market has plummeted from last year. And last year was bad.

2013 01 New Listings YOY sm 640x352 Redfin: Dont Expect The Inventory Of Homes For Sale To Rise Anytime Soon

The inventory of homes for sale is tight and it looks like it’s only going to get tighter. This Spring will be a heckuva time to sell.

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Greg Fielding

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About Greg Fielding

I am a longtime real estate agent who has pretty much seen it all during the housing boom as bust. With experience in selling high-end property and low-end foreclosures, raw land, short sales, development work, apartment buildings, and working with investors, I bring a well-rounded perspective to my work.I also have started to do some paid real estate consulting. If you have questions or just need some good real estate advice, book an appointment at http://whattodorealestate.com/In addition to selling real estate, my insights have been featured in The New York Times, The Big Picture, and regularly on Patrick.net. I have also done consulting work with ForeclosureRadar.Starting my career, in 2003, I have sold homes throughout Alameda and Contra Costa counties, specializing in Danville, Alamo, Blackhawk, San Ramon, Dublin, Pleasanton, Walnut Creek, Lafayette, and Orinda. I live in Danville with my three kids.


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One thought on “Redfin: Don’t Expect The Inventory Of Homes For Sale To Rise Anytime Soon

  1. Tom Stone

    Greg, it is a great time to list a home. Low inventory and low rates encourage the building of new homes, which increases inventory. And when that inventory starts to hit the market place and potential sellers decide to lock in any price gains inventory will grow even more. Supply will grow to a point it outstrips demand and prices will fall. It’s much wiser to sell when supply is low and demand high, ideally just before the inflection point. Which is only visible in hindsight. Bears make money, bulls make money, hogs get slaughtered.

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