- Jan 7, 2016
I don't think the numbers are a YOY comparison but rather a comparison to an average from a random set of dates (the 6 months before Covid hit if I recall correctly). It's also on a daily basis rather than an average of say a month. On any given day you can see a group of listings hit the market or you can see next to nothing. Without averaging that over the course of some period of time it can give a very skewed picture (either way). It also doesn't take into account the rate at which the listings sell. If a lot of new listings are showing up but they are also selling then you're not going to see a significant drop in pricing. Now if there are many new listings every day and far fewer contracts being sold, then you may see a decline in pricing.I don’t think anyone should overthink this , if I’m reading the numbers correctly there are double to triple number of contracts YOY hitting the market in very uncertain economic times , there is no real driver to meet that demand, and prices will probably fall significantly, am I missing something at the macro level?
One more thing - one artificial demand driver (Disney ROFR) has been eliminated