“The (Realtor) Parking Lot Indicator”
Yeah, yeah, I know all the official statistics that purportedly capture what the housing market’s doing at any given moment.
The list includes both year-over-year and month-to-month changes in “New Listings,” “Pending Sales,” and “Closed Sales,” plus the Case-Shiller Home Price Index, NAR’s sales statistics, etc..
Here’s another, albeit less scientific measure: how full or empty the Edina Realty – City Lakes parking lot is.
The caveat: it’s how full or empty the parking lot is relative to normal.
Weekly Ebb & Flow
So, just before the weekly Broker meeting Tuesday mornings, the lot is typically full; Saturday night at 10 p.m. . . not so much.
As a Realtor, when you’ve got company late on a weeknight — the case multiple times the last few weeks — you know the local market’s cooking . . .