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CAPITAL PROPERTY ADVISORY | NATIONAL BUYER'S AGENCY
Is there a shortage of homes for sale?
Is there a shortage of homes for sale? 22 June 2023 Matthew Hughes Source: REIWA June 22, 2023 With active listings in Perth dropping below 5,500 this week, there are concerns we’re facing a shortage of homes for sale. But is it a major shortage of properties coming to market, or is it the high demand and speed at which buyers are snapping them up that’s driven active listings to the lowest levels since mid-2010? To answer this question, REIWA has reviewed recent statistics and trends. Demand is keeping active listings low Active listings are defined as those properties listed for sale at any one time on reiwa.com . When sales activity is greater than new listings (new properties coming to the market), active listings fall. The below graph shows sales activity. As you can see the number of sales reported by REIWA members remains at the high levels of the past few years and well above pre-COVID levels. By comparison, the number of new listings is lower than recent years, but still 13 per cent above 2019. Meanwhile, sales volumes are 63 per cent above 2019. The number of sales reported by our members each week has been 10-15 per cent higher than the number of weekly new listings sinc
Source: REIWA June 22, 2023 With active listings in Perth dropping below 5,500 this week,… Read Article