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I Wonder Where The Listings Are

February 5, 2010

To paraphrase Bruce Cockburn,"I wonder where the listings are?" With interest rates almost certain to go up in the near future and the pending Horrible Stupid Tax (HST) coming in July I'm puzzled as to why more homeowners are not putting their houses on the market. I understand that those reasons mentioned above are why so many people are looking to buy right now but not sure why the sellers aren't taking advantage of this buying frenzy. I put a listing on the MLS last Monday morning and it sold in 12 hours. I have a list a mile long of people who responded to the marketing of that home but few decent homes to show them. That's just putting more pressure on the already scarce number of listings. Bidding wars are becoming more common even in conservative Durham, where we have not seen the same kind of ferocious action as the neighbourhoods in the GTA. I fear this imbalance could cause a bubble that could lead to a partial collapse of this market. We are not there yet but if realtors don't soon get more inventory to sell I'm a little nervous about the future. If you are thinking of selling now is the time. There are buyers out there for your home.

Tagged with: pickering ajax whitby durham real estate listings
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Rick Faye
SRES, Sales Representative

Royal LePage Connect Realty
Independently owned and operated.

Phone: 905-831-2273
Fax: 905-420-5455
Toll Free: 1-800-637-1312
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