Imagine that...
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RT @comparethemedia
18.6% of Minneapolis’ total real estate listings have popped up for sale in just the last 7 days
https://twitter.com/comparethemedia/status/1271529015095046146
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@phicyclist
I wonder how that compares to the weeks prior. Is the housing market just booming so every week nearly 20% of listings are new? Might make a stronger point to have the data to compare.
@SecondJon
Excellent question.
Hard data is preferable; I have not had a chance to dig thoroughly on it yet.
From my experience alone, a rise in listings signifies selling interest due to either rising prices (cashing out) or distress (move at any cost); I don't see the former. This could also be a backlog delayed by the shutdown. We'll have to see if buyers materialize.
Nearly 20% of an entire market seems exceedingly high.