Competition for housing is so high, the spring market is starting now

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The severe shortage of homes for sale is upending the sales calendar for the whole housing market. Spring has historically been the busiest buying season, but as competition for homes heats up across the country, January is the new April. Spring starts now.

The numbers are telling. From 2015 through 2018, the peak month for average views per listing on Realtor.com was April. January lagged by a full 16%. In 2019, however, January was the busiest month on the site in 20 of the largest 100 metropolitan markets.

The number of homes for sale in November, which is the latest reading from realtor.com, was down 9.5% annually, and the supply of entry level homes, priced below $200,000 was a stunning 16.5% lower than in 2018. Real estate agents are not usually very busy after the holidays. Some take the month off and then start preparing listings in February, but not this year.

 

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