Austin Klar explains why home buyers faced scarce listings in late 2023. The first week of January typically sees only six new single-family listings, but by week three that jumps to 43. Expect competition to intensify as inventory surges in mid-to-late January.
If you started looking for a house late last year, you're probably frustrated with how little new inventory came to market. Winter is traditionally one of the slowest seasons in real estate. We see fewer and fewer new listings as the year comes to a close. Most people are traveling, doing holiday things, not really focused on buying a house and moving. So the question is, when is more coming for sale? And if history is any indicator, mid to late January. During the first week of January in each of the last 4 years, on average, there are about 6 new listings of single-family homes. But by the third week, there were 43 on average. And steadily increasing as we get closer to summer. And the same trend holds true for condos. You can see it in the graphs above, things ticking up pretty rapidly mid to late January. So if you've been frustrated that you haven't seen anything new that you like hit the market, that's going to change soon. Remember though, with new inventory, there will be new buyers, so you better get ready for it. Follow me for more San Francisco real estate.
