Was the shrinking inventory of properties for sale only a seasonal cycle?

I don't think so....I think many UNsold homes are now being RENTED as owners have had to move for employment, education, etc.

Good morning Richard....I think many homeowners want to sell while their are still buyers..... theses sellers seeing gas prices skyrocket and the real estate market will take it on the chin again....sell now or own it for many more years....

Richard,

I have seen the same thing.  And the increase in listing activity is good, as much of the current inventory is stale.

A small drop would be, at least here in Florida, a seasonal thing. I have seen our small MLS drop from a high of almost 10K single family units to about 4,500 over the past several years though.

I think the bitter winter kept people from thinking about listing, but now the critters are coming out of hibernation. Two nights ago we did CMAs until midnight just to catch up.

Mike's comment is interesting...as the holder of some of those stale listings, sellers will have to do something to spiff up their homes.

Good thoughts, thanks.

I agree with Leslie - this has been the longest winter I can remember.  I have a number of buyers who are just waiting for more inventory to appear.  Now, the question is, will is show up?

We have had listings take a "rest" during the holiday season and are just now back on the market to seize the spring exposure.  We have noticed a nice pick up of buyers out last week and things seem very positive.  Hope your nice trend continues and inventory levels maintain at a balanced state.  BTW - I took your advice and on my blog & posted thoughts on what you had inspired me to follow up and do.  Thanks for the inspired piece.  You might like the photograph too.  My daughter Jamie, who has a minor in photography, took this night photograph for one of her classes.  I have featured several of her photos.  Funny thing, she sends me some occasionally and says, this might work for your blog.  And it does!  Thanks Richard, I love reading your posts!

The number of new listings has definitely been slow here but agree that many of the listings are stale making sales slow.

I think it was seasonal. Quality inventory under $400k in Northern Virginia is flying off the shelf since there ar so few non distressed homes in great shape. I have seen much more early activity on the sell side as you have. We shall see. As long as interest rates stay low we should be OK.

I think that the Groundhog was right...we are in for an early Spring!  At least that seems to be the case here in Virginia!  The interest in selling and buying has picked up substantially!

A lot of people are under the impression that they should wait for spring, so that may have something to do with it. Much success!

We have a lot of listings coming on the market in my market area, but we also have a lot of buyers and properties going under deposit. Interest rates are low, but are expected to rise, so buyers are trying to lock in rates now.  Sellers are also being much more realistic on prices.

There has also been a fair amount of Good news of the market that is seeping out of the news media.  I had two calls this week alone that were a direct cause of the reports.

I'm with Susan.  Looking forward to having some new inventory hit our local market for Spring.  I've got a couple lined up to contribute to the MLS. 

Richard,

I don't know about Cowetta, but around Crofton it definately is seasonal. I use a service that plots it out five years, and the dips in the winter months is very noticeable.

Rich

I am glad to see seller activity starting to increase around here.  Now it is time for the buyers to come out of hiding.