Pre-List Activity on Edina Realty’s “Network One”
If closed sales — at the very end of the process — are a famously lagging indicator, what qualifies as a leading housing indicator?
Pre-list activity on Edina Realty’s proprietary “Network One.”
Essentially a Realtor-to-Realtor bulletin board for Edina agents, Network One allows Buyers’ agents and Listing agents (representing Sellers) to find one another before properties formally debut on the market. See, “Have a House/Need a House.”
Seller’s Market Continues
So, what is the ratio of Buyers to Sellers on Network One right now?
As of this morning, 650 Buyers’ agents had saved searches on behalf of their clients (“Buyer needs”), while 410 agents were plugging their upcoming listings.
That translates into a rather lopsided Buyer-Seller ratio of 1.59 — or more than three Buyers for every two Sellers.
How good a proxy is that number for upcoming market activity?
Given that Edina Realty has a Twin Cities-leading 2,000-plus agents, I’d say . . . “very.”
See also, “Housing Market Lagging Indicators and Contrarian Signals”; “Contrarian Indicator”; “Contrarian Indicators ” Housing Market Edition”; “Successor to “The Magazine Cover Indicator’: The WSJ Diss.”
