SQM Research has released its Stock on Market figures for the month of February, which revealed a small 1.2% increase in stock levels over the month, but a 3.3% decline over the year. It was also the smallest February increase in stock levels since 2009.
According to SQM’s managing director, Louis Christopher:
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“The count of national listings suggests a residential market that is in a moderate up tick. Normally, listings jump in each February followings its hiatus in the holiday season. However, this year there was only a modest rise in stock level. That would suggest to me that vendors are in no rush to sell and existing stock is being absorbed at a quicker rate than usual.”
