Supply of Homes Catching Up With Sales?
In 21 of the 24 major metropolitan markets tracked by residential brokerage ZipRealty, new listings outnumbered new sales contracts for the 30 days ending March 15th. Significant number of sellers are now putting their home on the market, mainly because of increased value and their desire to make a change. But in some markets, increased listings are only bringing increased buyers, which is certainly what is happening in the Dallas area. For the first time in months, NTREIS reports there are more listings between April 1, 2013 thru April 25, 2013 than for the same time period last year. In 2013 for the 25 day period, 14,916 homes were listed. For the same period last year, 13,978 new listings, meaning an almost 1,000 home increase. However, the northern suburbs of Dallas and Ft Worth are experiencing even more buyers with more listings. There is no end in sight of the boom in buyers.
- USA Today, April 2013 (excerpt)
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