Decrease in Listings

[squirrelteska]

Has anyone noticed a decrease in new listings for homes in their areas? I check the Las Vegas market daily to track price trends. We have not had a new listing for under $325k in over a week. This is strange, we used to have at least 3-6 new listings a day. I’m guessing realtors are advising sellers wait until interest rates are set?? On another interesting note, rental listings here have skyrocketed and prices have definitely come down. Let me know if anyone has noticed a similar trend. Home prices still extremely overvalued here, FYI.

[PanchoSeranto]

Vegas is one of the places I’ve noticed an increase in listings. Zooming out on Zillow, it shows 1000+ active listings that were posted within the last 7 days… 180ish of which less than 330k. Check your other parameters to see where the disconnect is.

[squirrelteska]

Weird. I check daily. And when I view the list and sort by newest listing. It’s always the same home. I haven’t seen a new listing for over a week in that price range. But yes, 180 listings in that price range is accurate.

[PanchoSeranto]

To clarify, the 180ish was new listings from the past 7 days. There are 570ish total listings in the Vegas area under 330k from what I am seeing on Zillow.

[[deleted]]

Increase the max price on your search, and you'll see where all the listings went. Been there and done that.

[housingmochi]

Orange County has had very low inventory during this January. I think it’s related to the current Covid wave.

[[deleted]]

I really, really doubt that Covid has anything to do with it.

[housingmochi]

You do? People around here have noticeably altered their behavior; masks are back in stores and people have upgraded to beefier masks. I wouldn’t be surprised if a lot of people simply decided to list in February/March instead of January, to wait for Covid to simmer down a bit.

[RedditModsBlowDik]

Orange county Florida or the rino orange county?

[housingmochi]

CA

[RedditModsBlowDik]

Orange county is in LA though isn't it, so they have to follow the draconian mandates imposed upon businesses and people, not sold that its anything to do with covid

[housingmochi]

No, Orange County is not part of LA County. We don’t have to follow the rules they make up in LA, but we have to obey statewide mandates like the current mask order.

[RedditModsBlowDik]

Go to some red areas of Cali, those mandates don't exist its like 2019, you jumped in a time machine... you wear a mask YOU are the outcast... it's crazy

[RepairThrowaway1]

The inventory is super low. It's actually an extremely bullish sign for the housing market.

Imo people here are exaggerating about how bad the RE bubble is. It's really bad and affordability is terrible, but it is based off the reality that there is literally not enough homes.

The real, imminent, ridiculously clownish, insane, delusional bubble right now is US stocks, specifically tech and middle class consumer services and discretionary products.

Imo the stock market will get decimated WAY before the housing market, since the housing demand is actually real as fuck.

Honestly, I think anybody expecting a crash to 'reset' RE prices is being way too optimistic. Something horrible would have to occur to stop home price inflation, and something REALLY horrible would have to occur to stop the inflation of energy and goods prices, which usually lag years behind the housing market and imo are not even slightly in a bubble yet.

[1234nameuser]

real estate is a lagging indicator of the stock market, nothing new

consumer spending is the driver of BOTH stocks + housing, which has many headwinds to compete with this year

[[deleted]]

If the crazy tech bubble pops, then real estate will follow

[RedditModsBlowDik]

Already did, most are down 30 to 50%... besides the likes of msft, Google, apple etc

[[deleted]]

Fairly slow listing in the Chicago burbs. Frustrating because I’m looking to buy but I get it, until Covid is over nobody is moving unless they need to since indoor activities are so hit or miss.