The drastic drop in inventory seems devastating, but check out the closed sales:
NSDCC Number of Listings & Sales, First Quarter
| Year | ||||
| 2018 | ||||
| 2019 | ||||
| 2020 | ||||
| 2021 | ||||
| 2022 |
Last year was an exceptional frenzy with 663 sales in the first quarter, but look how this year compares to previous years. The 1Q sales in 2022 are fairly close to those in 2018-2020, in spite of fewer choices!
One explanation is that in the 2022 frenzy, there isn’t a need to ‘refresh’ listings.
Could it be that there were hundreds of refreshed listings previously, and now there are virtually none?
Yes – in my spare time, I’ll go back and check!