We’re past the holidays, and you know what that means! Besides being a few pounds heavier than before Thanksgiving began, January also brought us a 62% increase in new listings on the market from December. Now that Christmas decorations are put away and holiday guests have gone home, sellers have gotten serious about getting their properties on the market.
While more listings going active on the market was a good thing, it didn’t mean that it was easy for buyers to get under contract on their dream home. The number of new listings in January was 3,964… and a whopping 4,514 homes went under contract in the same time frame.
Real estate professionals worry that this lack of supply could stall the market. Potential sellers worry that they won’t be able to find a home to buy and may choose to stay put. Buyers could get frustrated with high prices and bidding wars and choose to rent for another year instead.