Head on down to Beacon Drive In.
Purchase a box of French fries.
Walk down to Dallas Road.
Toss a fry within sight of a flock of seagulls.
Give it a few moments...
Toss another one.
You'll have the whole flock squabbling over each fry, and the most aggressive gulls getting most of them. You'll find some are even snapped out of the air before they've hit the ground. You could throw almost anything at that hungry crowd and they'd attempt to swallow it down. This is where the market has been for many months. Too many buyers squabbling over too few houses.
But what happens if you scatter all the fries at once? Sure, there'll always be squabbling, especially for the largest fries nearest to the flock, but chances are higher that some fries will go uncontested. The more careful, wary gulls may even get a tasty morsel. This is what's happening now. We still have a large flock of house-hungry buyers, but more choice in listings gives some glimmer of hope and divides the flock amongst more selection. Perhaps there's an opportunity for those who have been sitting hungry on the sidelines.
We’re not at parity yet though, nobody is dropping an unlimited-size box of housing at our feet. It will take a lot to satiate the appetite of this housing market. But we ARE seeing more listings coming on market than we’ve had in a while.
THIS IS NORMAL. It's typical of spring. It's the time of year most people tend to list their homes so it's normal to experience more selection now. Spring is an opportunity for buyers. Come summertime, we may be back to a one-fry-at-a-time kind of market.