Tuesday, Apr 06, 2010
Pent up supply
Introducer Today: Sellers hit 20 month high
"The latest Agency Express Property Activity Index shows that the UK’s house sales were down on February’s levels but the number of properties that were put on the market hit a 20-month high. Nationally, the number of houses sold in March was 13.7 per cent less than in February but was still 5.1 per cent up on March 2009. The number of properties that were put up ‘For Sale’ rose by 5.3 per cent on February to their highest level since July 2008, which is a 38.9 per cent increase year on year."
Posted by mark wadsworth @ 12:21 PM (441 views) Add Comment
3 Comments
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1. Crunchy said...
Why is the outcome so blatantly obvious, yet so elusive? It's all about timing Bud.
2. paul said...
Yeees. A 5.1% increase on f*ck all is still f*ck all.
3. landofconfusion said...
I know a guy at work who used to be an estate agent. The house next door to him is a repo as are several others in the surrounding streets. His view is that while more and more repo's are coming onto the market, none of them are selling.
Presumably some are eventually being sold (like 5.1% of them) but the numbers coming onto the market is slowly creeping ahead of sales.
Now tell me, how do avalanches start?