New Listings in SoCal Jan. 2020
It’s the end of January 2020. We have a new year and we are staring down the barrel of a new selling season in real estate. In Southern California we see a slow-down in listings that dip in late December and January every year. This year is no different according to the data graph below.
But this year is not quite the same, either. The total new listings reported in the Southern California MLS, the CRMLS are seeing record lows. This is incredible considering a few factors happening right now. First, interest rates are incredibly low, providing buyers with more buying power. Second, prices are up. Sellers are getting what they are asking for!
Usually in a real estate climate like this, home sales would be chugging along nicely. So are we only seeing just the slow-down that happens every year? Will new listings start pouring into the market in the coming months?
This quick graph with data pulled from listings reported on the CRMLS shows how listings peak in the spring months starting in February, and eventually trail off by end of year. What will we see in the next sixty days?