“Pending home sales spring forward, boost inventory,” posted at Inman.
I thought for a minute there was something I was missing. If more homes are going under contract, and sellers aren’t selling (which is the case pretty much nationwide), doesn’t that deplete inventory? It always did when I was selling real estate in a seller’s market. So, I read the article carefully.
There isn’t a thing in it that assures us that inventory is being boosted anywhere. There is a quote from Lawrence Yun that says, basically, if we are to keep up this momentum in closed sales we’ll need a consistent influx of new listings. “Without adequate supply, sales will likely plateau,” says Yun. Well, yeah. That’s how it works.
Try as I might, I cannot figure out where this writer got information that inventories are increasing. Then, I read her bio. She’s a recent journalism school graduate. In fact, Inman is her first employer as a journalist. No real estate knowledge necessary, I guess and, sadly, nobody at Inman seems to be on the ball enough to catch this glaringly ignorant headline.