More declines in new homes listed. What is up?
Redfin has come out with another of their great market reports. Sadly, we are seeing another month where the number of homes listed has declined. Between that and the low number of new homes being built, there are fewer homes on the market now than there were at the same time last year. This is bad news for folks looking to buy and news that is apparently not strong enough to consider home owners into becoming sellers. But what is behind this hesitancy? The pundits seem to think it is all about owners being concerned about finding their next home. I don't think it is quite that simple. In fact, I think that the concerns here go deeper than most want to admit and reflects a much more general issue of low confidence on the part of home owners.
We will run down the numbers by region and even cover a few big cities to get a more focused idea of what is going on.
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