We Are Inching Closer to a Balanced Market Across the Country <\/strong><\/h2>\n\n\n\nThe number of newly listed homes scaled back by 2.2% on a month-over-month basis in April. This small decline is in part due to the split between markets that saw the number of listings rise and those that saw a decrease in new listings. \u201cFor buyers, this slowdown could mean more time to consider options in the market. For sellers, it could necessitate a return to more traditional marketing strategies. Of course, there are significant regional differences, so your best bet is to contact your local REALTOR\u00ae<\/span><\/strong><\/a>. They have the information, guidance & negotiation skills to help you navigate this rapidly-changing market as it evolves,\u201d said Jill Oudil, Chair of CREA.<\/p>\n\n\n\n- Read: Now is the Time to Sell: Durham Cities Currently Have the Shortest Average Property Days on Market<\/span><\/a><\/strong> <\/strong><\/a><\/li><\/ul>\n\n\n\n
The sales-to-new listings ratio (SNLR) hit the lowest level since June 2020 at 66.5%. This ratio is used to determine if the market favours buyers, sellers, or is balanced. This spring, we have been inching closer to a balanced market, which usually sits around 50%. The long term average for the national sale-to-new listings ratio is 55.2%. A little over half of local markets were balanced based on the SNLR, while a little less than half remained in seller\u2019s market territory. <\/p>\n\n\n\n
Fatigued Buyers Should Remain Hopeful <\/strong><\/h2>\n\n\n\nAt the end of April, we had 2.2 months of inventory on a national basis. Although this is still a historically low figure, it is up from the past eight months. We continue to see a rise month-over-month<\/span><\/a><\/strong> which is a positive sign for apprehensive or fatigued buyers. <\/p>\n\n\n\n
- Read: Now is the Time to Sell: Durham Cities Currently Have the Shortest Average Property Days on Market<\/span><\/a><\/strong> <\/strong><\/a><\/li><\/ul>\n\n\n\n
The sales-to-new listings ratio (SNLR) hit the lowest level since June 2020 at 66.5%. This ratio is used to determine if the market favours buyers, sellers, or is balanced. This spring, we have been inching closer to a balanced market, which usually sits around 50%. The long term average for the national sale-to-new listings ratio is 55.2%. A little over half of local markets were balanced based on the SNLR, while a little less than half remained in seller\u2019s market territory. <\/p>\n\n\n\n
Fatigued Buyers Should Remain Hopeful <\/strong><\/h2>\n\n\n\n
At the end of April, we had 2.2 months of inventory on a national basis. Although this is still a historically low figure, it is up from the past eight months. We continue to see a rise month-over-month<\/span><\/a><\/strong> which is a positive sign for apprehensive or fatigued buyers. <\/p>\n\n\n\n
![\"\"](\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/April_CREA-1-755x1024.png\")
<\/figure>\n\n\n\n