K-shaped bounce
The 'K-shaped recovery' refers to an economy emerging from recession, the component parts of which recover at different times or rates.
As one of the more interest rate sensitive sectors of the economy, it's not unexpected that the housing market could lead the rebound.
And so it is proving, with stock selling faster than it's being brought to market, as already previously highlighted by CoreLogic.
Days on market have tumbled to 44 days at the national level - charting via Morgan Stanley Research.
Source: Morgan Stanley Research
Meanwhile vendor discounting has all but disappeared, with national vendor discounting improving to sit at the strongest level in at least 15 years.
All aboard the K-wave.
