When home sellers don't get the offer they want, one option is to withdraw the listing.
How much are cancellations effecting the market right now?
Lots of people asking that question. Here's how I look at it. As a percentage of new listings - how many cancel?
Some data:
Also pour one out for the sales agent in Florida having to win 10 listings to have 4 close.
For example - this would indicate ca/tx/nv/tn are similarly weak whereas inventory compared to 2019 shows a different picture for those states, with ca flat to 2019 and tx up 30%.
I wonder if this isn’t the best single data point to compare markets. The usual datapoint I see is inventory levels compared to 2019 - but I think that is misleading to some extend because the markets in certain states were different in 2019 plus there have been population shifts.
Great to see you on this platform Mike albeit still miss your YouTube updates.
Have to say though this data point looks very bearish. A cancelled listing is just a new listing in waiting.
