ARMLS rather quietly indicates that period is questionable in their records. L indicates that a number of agents didn’t even bother putting homes on the MLS then. Then with properties being flipped within weeks, the stats were a mess.

It’s safe to say though, that things have gone way, way downhill since then- with no sign of the trend turning around in the near future.

Mea culpa!

“Sales temporarily dipped below listings” should read: “sales temporarily outpaced listings.”

Just look at how listings and sales converged, sales temporarily dipped below listings, then inventory skyrocketed while sales languished.

That’s amazing.