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For every single problem of Elliman Magazine produced by Douglas Elliman, the exact same enterprise that publishes most of our U.S. industry analysis, I create a temporary column and develop a graphic to illustrate an vital problem facing the luxury housing marketplace. Of course, the graphic I make is then supercharged by their extremely proficient graphics staff members.
Listing stock has in essence collapsed in most U.S. housing markets as unusually minimal costs in opposition to the backdrop of sturdy financial conditions have burned off offer to document lows. Evidence of this is viewed in the proliferation of U.S. housings markets with a significant share of bidding wars. Considering the fact that these are broad markets, different submarkets can see the market place share at must greater concentrations. The proxy for market place share is the share of transactions that shut earlier mentioned the inquiring price at time of sale against complete interval sales.
In the latest problem of Elliman Magazine: Spring/Summertime 2022, my column “A Symptom of Chronic Stock Lows: Bidding Wars Are Everywhere”
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Tags: Listing Stock, Elliman Magazine, bidding wars, Douglas Elliman
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