CoreLogic’s leading indexes are out and they point to further house price weakness. Listings barely retraced over the Christmas break and are ready to rocket into the Autumn not-selling season:
As shown above, stock levels are exceeding the same time in February 2012, suggesting record potential stock levels this year.
SQM Research’s rival Stock on Market report, released yesterday, posted a similar lift in listings, with managing director Louis Christopher describing the situation as “abnormal and concerning” after the “terrible spring selling season”, with Christopher “now expecting a surge in listings over February”.
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