Buyers are Back, Stock Levels Surge to Their Highest Level

The seasonal surge in listing numbers is well underway, with fresh listings being added to the market up 16% relative to the end of winter, however, despite the upswing in new listings, fresh stock additions are tracking almost 4% lower than the at the same time a year ago to be at their lowest seasonal level since 2012.  The low level of new listing numbers can be attributed to weak vendor confidence; no surprise given housing market conditions have weakened and selling conditions have…