Two charts below clearly illustrate the active listings versus sales situation in the greater Moncton residential real estate market.
As Spring approaches, we are in seriously uncharted territory.
Obviously Sellers have the advantage in the current marketplace. Will a surge in Sellers quell Buyer's thirst for listings? Will Buyers, who've been waiting on the sidelines, become disillusioned with market conditions?
This Spring, will builders be willing and able to supply new housing listings to the marketplace? Or will builders be too busy building for recent Sellers who have cashed in their old house for a new build.
Based on the first quarter, the rest of the year will certainly be an unusual one in our local real estate market.