Where more listings started to flow to market a few weeks ago, buyers attention was divided amongst the selection. The newly dubbed "micro" sellers market as I named it a few weeks back carries on, and gains momentum, this is due to fewer products being available.
Could be a final push to get into something before the holiday season and the snow hits the ground, or it could just be a few products hitting the market have drawn buyers back to it. The gap was starting to close between last years inventory and this years, but October seems to have its own plans in this department, with renewed buyer interest looking to capitalize on the supposedly sleepy time of year. Rewind a few short years to 2019 where there was almost 3k available at this time, almost 4k in 2018, and take it back to 2015 where there was 5,668 properties for sale this week! We have come a very long way in such a short time. A mere 983 products are currently listed active for sale at the moment, and that's in all categories/prices/areas etc. It was bound to happen, and we have been headed to the basement for a couple years, but this week marks a new low in the already decimated inventory levels.