These four Statistics tell the Story
Sales: in January are 1199 properties sold, that is 40% lower than this time last year. What it shows it that there is a lack of product for buyers.
New Listings: 1852 properties available to buy. That is 25% lower than this time last year. What it shows is that people who have houses do not want to sell them.
Inventory: 2451 properties: that is down by 6.7% from this time last year.
Months of supply: Is at 2.0. At this level it is generally accepted that there will be upward pressure on price.