The number of newly listed homes in Conejo Valley is beginning to rise. The latest monthly release reveals that the number of existing homes is increasing. Here’s a graph showing the monthly new listings from January last year.

However, buying demand is still outpacing the housing supply.

Though the increase in homes coming to the market is great news for prospective homebuyers, many buyers are still outpacing the number of homes available. As realtor.com explains in their latest report:

“During the final two weeks of the month, more new sellers entered the market than during the same time last year. . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand.”

— realtor.com

In fact, according to the latest ShowingTime Showing Index, which tracks the average number of appointments received on active listings during the month, buyer demand was greater this January than any other January in the last five years (see graph below):

This prompted ShowingTime to say:

“The latest data from ShowingTime . . . shows a surge in home buyer demand in January. . . . This enormous activity occurred in a month when buyer activity typically slows and follows a historic 2021, where buyer demand across the country was extraordinarily strong.”

What does that mean for you?

As soon as homes come to the market, they are quickly being purchased by eagerly awaiting buyers. So even though the number of newly listed homes is increasing, the number of active listings is still shrinking every month because buyers are purchasing homes almost as soon as they come up for sale. That means listings are coming on and off the market so fast that they don’t carry over to be counted in the active listing numbers the following month. Here’s a graph showing the number of active listings each month since last July 2021 :

This graph shows that the number of active listings has decreased for the last six months even though the number of newly listed homes has increased over the previous two months.

Bottom Line

Whether you’re looking to upgrade to a home that will better suit your lifestyle or looking to purchase your first house, let’s connect so you can stay updated on what’s happening in your area. Also, be prepared to move immediately if a home fitting your needs hits the market. Your dream home may be one of those new listings that became available, but if you don’t act quickly, it could be gone tomorrow.