Not surprisingly for this time of year, inventory (new listings) continues to drop. We see this cycle every year with fewer listings starting at the 4th of July holiday and continuing until just after Labor Day.
Also, continuing a trend for most of this year, there have been fewer new listings for most of the two week periods this year compared to the same period last year thus exacerbating the low inventory problem which then contributes to overbidding and higher and higher prices. Compared to the same two week period last year new listings were down 22% from 290 to just 229.
See the entire report here: www.boldsf.com/Statistics/index.html
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