Although new listings are coming on to the market, the total number of listings is still dropping, showing that older properties on the market that were previously not receiving any interest are now being snapped up.
- Total property listings fell by 6% in May.
- New listings fell by 2.4% in May.
- While the listings for properties on the market for over 180 days dropped by 9.2%.
In short, people are buying more properties than are being listed, and they are snapping up all the old properties that couldn’t sell during the slower market 6 plus months ago.
Property data always provides a riddle, wrapped in a mystery, inside an enigma!
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Check out the latest property listings results from SQM research.